The recent Housing Trends Report from the NAHB’ indicates that buyers who are considering purchasing a home in the next 12 months fell to <-11%> in the 4th quarter of 2019, down from 13% a year earlier. This is the fifth consecutive year-over-year drop in the share of American buyers planning to buy a home in the year ahead, a trend likely driven by the low levels of housing inventory available in the market. A surprising finding in the fourth quarter of 2019, however, is that a significantly larger number of prospective home buyers are first-time buyers (63%) than the comparable figure a year earlier (53%). Future surveys will determine if first-time buyers will continue to grow as a share of all those looking to buy a home
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Share of First-Time Home Buyers Rises Significantly in the Final Quarter of 2019