First Time Home Buyer Statistics

If you have been following the Ben Lang Properties Blog recently, you should already know that the Southeastern Michigan real estate market is continuing to stabilize.  Given these real estate market conditions, first time home buyers are making up more than 50% of the Home Buying Population!

Who Is Doing this Buying?

An independent study was conducted of recent first-time home buyers and some interesting information was discovered!

• The median age of first-time home buyers today is now 28 years-old.  The age of first-time home buyers has actually went DOWN from 4 years ago, which then was 32 years-old.

• First-time home buyers are on average purchasing homes that are about 1600 sq feet.

• The astounding bit of information that stood out in the study was that 36% of the first-time home buyers actually chose their home based on the location or neighborhood it was in. That was their main reason for purchasing their first home!

Watch the video below to learn more about first-time home buyer statistics:

If you would like more information on purchasing a home or selling a home in Oakland County, or are first-time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Macomb County and Oakland County Realtor, complete Ben Lang Properties contact form to have a real estate agent contact you!

Ben Lang Properties specialize in selling Oakland County Real Estate.  Troy Realtor selling Metro Detroit real estate, working with Keller Williams Realty in Troy, Michigan.  See what past clients have to say about Ben Lang.  Working with short sales and foreclosures in this challenging real estate market to get the best deals for home buyers.

Tags: Ben Lang Properties Blog, first time home buyers, home buying population, Keller Williams in Troy, Macomb County Realtor, Metro Detroit Real Estate, Oakland County Realtor, purchasing a first home, purchasing a home in Macomb County, purchasing a home in Oakland County, real estate agent, real estate market conditions, Realtor, selling a home in Macomb County, selling a home in oakland County, selling Oakland County Real Estate, short sales and foreclosures, Southeastern Michigan real estate market, Troy Realtor

This entry was posted on Saturday, September 4th, 2010 at 8:10 am and is filed under First Time Home Buyer, Home Buyer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.