First Time Homebuyers Gaining Traction

First Time Homebuyers in San Diego California

After slipping for 3 straight years, the U.S. share of real estate sales to first time homebuyers increased to 35% in 2016, the highest level since 2013. 

Typical First Time Buyer in 2016

  • Median Age of First Time Buyers - 32
  • First Time Buyers used a Federal Housing Administration “FHA” Backed Mortgage to Purchase a Home – 1 of 3
  • Average Size of Down Payment for a First Time Home Buyer – 6%
  • Average Square Footage of a Home for a First Time Home Buyer – 1,650 Sq. Ft.
  • Household Income of Typical First Time Home Buyer - $72,000

What will 2017 look like in the San Diego Real Estate Market for First Time Home Buyers? Probably more of the same of what we saw in 2016. Since many in the younger generation have rented and not purchased real estate there is a large amount of First Time Home Buyers ready, able and now willing to purchase a home or condo in San Diego.

San Diego Real Estate Search

San Diego Home Search        San Diego Condo Search

Give The Lewis Team a call to get started on your journey to owning a home in San Diego.

The Lewis Team at Keller Williams

619-656-0655 

ZILLOW 5 star realtors in San Diego

San Diego Real Estate   Buy a Home in San Diego    Sell a Home in San Diego 

San Diego Relocation   San Diego Military Relocation   San Diego Home Worth