First-time home buyer statistics: age, income and trends
Today’s Homeowner: Jonathan Ernest, assistant professor of economics at Weatherhead School of Management, said that first-time homebuyers face steep challenges, including record-high prices, limited inventory and rising mortgage rates. Just 24% of buyers are first-timers, the lowest share in decades. “In addition, rents have remained stubbornly high in many areas, which has made saving up for a downpayment more difficult,” he said.