First-Time Homebuyers Make Up Large Percentage of Buyers in 2008

Did you buy your first home in 2008? If so, you fall into the category of "First-Time Homebuyers" and according to the National Association of REALTORS®, you make up a large percentage of the home sales!

The above chart shows that 41% of ALL BUYERS were first-time homebuyers - and then breaks down the numbers by region:

• Northeast - 46%
• Midwest - 41%
• South - 39%
• West - 41%

According to the study, "unencumbered first time buyers are therefore a larger share of purchasers, now 41 percent." In almost all regions of the country, and nationally, "first-time buyers became a larger segment of the market."

If you did not buy in 2008, it is still a great time to buy! In many areas of the country - and in the Atlanta area, in particular - it is a "Buyer's Market," meaning that it is a market in which the number of sellers is greater than the number of buyers, so the supply outweighs the demand. This means you have more choices and more chance for negotiation. There are still some "good deals" out there, but even more important than that, there are beautiful properties on the market in good to great condition. You do not have to buy a foreclosure or short sale property or a distressed property in need of major repair to get a good price on a home.

Do you want to find out more about buying a home in the Atlanta area, or are you thinking about buying your first home? I'd love to meet with you for a consultation! Give me a call today at (770) 238-0595 or email me at Maura@GebhardtGroup.com.