First Time Home Buyers Holding Their Own

Without the concern of selling an existing home, first time home buyers find buying opportunities in the current market. Do you know any first time home buyers looking for a
home in Spokane.

clipped from www.realtor.org NAR Home Buyer and Seller Survey Shows Rise in First-Time Buyers, Long-Term Plans The latest consumer survey of home buyers and sellers shows first-time buyers have risen in market share and plan to own their homes longer than buyers in the past. The study was released here today at the 2008 REALTORS® Conference & Expo. Lawrence Yun, NAR chief economist, said a higher share of first-time buyers makes perfect sense, and it’s a trend he expects to grow. “First-time buyers are much more flexible in entering the market because they aren’t concerned about selling an existing home,” he said. “Given low home prices, plentiful supply and affordable interest rates, it’s been an optimal time for entry-level buyers with a long-term view. “Considering the temporary first-time buyer tax credit and improvements to the FHA loan program, we expect stronger entry-level activity as the flow of credit improves – that, in turn, should free more existing owners to make a trade in 2009.”