Top 5 Housing Markets for First-Time Buyers
According to the National Association of Realtors (NAR), one out of three (32 percent) home purchases made in May 2015 were by first-time homebuyers.
Lawrence Yun, chief economist for NAR, called this “an encouraging sign” stemming from “strong job gains among young adults, less-expensive mortgage insurance, and lenders offering low down payment programs.”
The number of first-time buyers entering the market will continue to increase, according to Yun.
To see which states offer the best conditions for new homeowners, GOBankingRates.com ranked the states that had the most growth in the number of first-time homebuyers while maintaining lower levels of foreclosure rates over the past 10 years.