Are current or first-time buyers responsible for summer's strong housing market?

  • The strong housing market we experienced this summer may have been driven more by current homeowners buying additional properties than first-time homebuyers.
  • The market share for current homebuyers surged in the summer while the first-time homebuyer share declined.
  • In addition, the investor share of home purchases has also fallen from 18.7 percent in March to 14.4 percent in August.

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The strong housing market we experienced this summer may have been driven more by current homeowners buying additional properties than first-time homebuyers, the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey suggests. But a recent report from the American Enterprise Institute (AEI) offers the conflicting view that first-time buyers have been gaining market share for several months.