First-time buyers vs. investors for mid-range homes

According to this HousingWire story, a good portion of the nation’s homebuyers fall into one of two camps: first-time buyers with low-interest FHA loans, and investors looking for single-family homes to rent.

The battleground: the $225K to $400K price range.

Nearly one out of every 3 buyers was an investor, typically paying cash for houses with a median price of $245,000, according to DataQuick.

Simultaneously, 25.5% of mortgage originations with FHA financing were to first time homebuyers, down for the second time in two months.

(Note that the article and the data don’t make clear whether these are real first-time buyers, or just people who are legally first-time buyers (i.e., it’s been more than three years since they’ve owned.))

Click here to read it.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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