By: Claire Smith
Source: Miami Agent
First-time homebuyers accounted for 32 percent of all residential sales in February 2017, marking minimal change from January 2017 (33 percent) and February of last year (30 percent), according to the National Association of Realtors.
Nationally, demand has remained steady for first-time homebuyers for the past couple of years, despite surging prices and low supply plaguing the market. The demand is likely to remain for young homebuyers, as increases in interest rates, continual job growth, improving incomes and the gradual increase of Millennials entering the housing market help boost their purchase ability, reports NAR’s Economists’ Outlook.