Friday, May 28, 2010

First Time Home-Buyers set RECORD in 2009!



The number of First-Time Home buyers rose to 47% of all home sales. This is the highest on record since 1981. The previous high was in 1991 and was at 44%. The interesting point about this is that the last cyclical peak of First-Time home buyers was during the last noteworthy economic downturn, with First-Time buyers starting the chain reaction that led the nation out of recession.

87% of 2009 buyers consider their home a good investment, and more than half see it as a better investment than stocks. Twelve percent of buyers own two homes, while another three percent own three or more homes.

When asked where they first learned about the home purchased, 36 percent of buyers said a real estate agent; 36 percent the Internet; 12 percent from yard signs; 6 percent from a friend, neighbor or relative; 5 percent home builders; 2 percent a print or newspaper ad; 2 percent directly from the seller; and less than 1 percent a home book or magazine.
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