Today's First-Time Homeownership Facts

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Nowadays the average first-time buyer is 38 years old and represents 24% of all home sales. 

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The median annual household income for first-time buyers today is $97,000.

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The median down payment is 9% for a first-home purchase, which primarily comes from personal savings.

 

 

Among average first-time buyers these days, 35% carry about $40k of student loan debt. 

The majority of first-time buyers financed 75% or more of their home purchase with a fixed rate Conventional home mortgage loan.

Buyers toured an average of 8 homes in ten weeks and 85 percent of them purchased resale homes. The average first-time buyer plans to stay in their home for more than 10 years.

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