First-Time Home Buyers in 2014

• First time home owners made up 33% of national home sales in 2014.  This is slightly less than the historical norm of 40%. 
•  The typical age of a first-time home buyer was 31.  
• Typical first-time homes buyers financed 95% of their home.

Tightened credit standards is one reason why first-time home owners were less prevalent in 2014 than the historical norms.  The demographic make up of first-time home buyers indicates that they are more likely to be single and have a lower income than repeat buyers. 

First Time Home Buyers
 (Percent of all buyers)

First-Time Home Buyers House Hold Make up

Primary Reason for Purchasing A Home

Source:  2014 NAR Profile of Home Buyers and Seller