First Time Buyers: 27 Percent of Residential Buyers vs the Normal 40 Percent

Approximately 27 percent of REALTORS stated that their last sale in December was to a first time home buyer (28 percent in November). First time buyers usually represent 40% of residential purchases. REALTORS are reporting problems of home buyers qualifying for loans and are finding it difficult to compete against investors who generally pay cash. About 21 percent of respondents reported a sale to an investor.