The housing bust is creating a new group of winners: first-time home buyers. People who sat on the sidelines — often watching wistfully as their friends became homeowners — are suddenly in a position to grab some great deals. Indeed, first-time home buyers made up 41% of all buyers at the end of 2008, up from 36% in 2006, according to a recent survey from the National Association of Realtors.
The new buyers are being lured in by home prices that are down about 25% from their peak levels in mid-2006, according to the S&P/Case-Schiller Index. If you are a buyer sitting on the fence and not sure if taking the plunge is the right choice for you, contact us today for a free no obligation consultation.
