BrokerageIndustry News

NAR: Record share of first-time buyers

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First-time homebuyers accounted for half of all home sales from July 2009 through June 2010, according to a National Association of Realtors survey of buyers and sellers. That's the highest share of first-time-buyer purchases in the history of the survey, which dates back to 1981. First-time buyers responding to the survey made up 47 percent of sales in 2009. The 2010 NAR Profile of Home Buyers and Sellers, based on 8,449 responses to a survey sent to homebuyers and sellers nationwide whose transactions took place between July 2009 and June 2010, according to county records. The vast majority of first-timers (93 percent) participating in the survey, and almost three-quarters of all buyers (71 percent) responding to the survey participated in a federal homebuyer tax credit program.The tax credits were available to eligible homebuyers who bought between Jan. 1, 2009, and April 30, 2010. First-time buyers were eligible for a credit of up to $8,000, and an extension and expansion of th...