Pekin Real Estate-Where Have All The First Time Homebuyers Gone ?
The end of the Home Buyer Tax Credit decreased the share of first-time home buyers to 37 percent from 50 percent in 2010 and 47 percent in 2009. The Midwest and South had the smallest share of first-time buyers at 34 percent, while the Northeast had the greatest share of firsttime buyers at 43 percent. First-time buyers include a higher share of single buyers and unmarried couples, while married buyers are predominately repeat buyers. Overall, the same share of first-time and repeat buyers have children under the age of 18 living in their home. The typical age for first-time buyers was 31, nearly unchanged from 2010, while the typical age for repeat buyers increased to 53 from 49 in 2010. The typical income for both first-time buyers and repeat buyers has increased from the last report. The typicalhousehold income for first-time buyers was $62,400 and $96,600 for repeat buyers in 2010. Married repeat buyers typically had the highest income among buyers at $110,800, while single female first-time buyers had the lowest income at $46,300.
If you are a First Time Homebuyer ready to begin the search for your 1st home, the Pekin Real Estate Guy, Brad Barnard, specializes in assisting First Time Homebuyers navigate the waters of their first home purchase. Brad can be reached in the Pekin Real Estate market directly at 309-241-0313 or drop him a line at email@example.com.
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