Sales to first-time home buyers fare best in tough quarter: Genworth

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NerdWallet expects affordable homes to remain in short supply in the second half of 2019, but millions of homeowners could save by refinancing. Read more about these near-term housing trends.

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Existing home sales rose 2.5% to an annual pace of 5.42 million in July and June’s numbers were revised higher. Still, even with lower interest rates, affordability remains the largest obstacle to more robust home sales as demand remains strongest around the median home price of $280,800. Home builders will need to pivot towards more entry.

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The first-time homebuyer market has dynamics all its own. That’s why Genworth Mortgage Insurance’s Chief Economist, Tian Liu, thoroughly studies the market to bring mortgage lenders new findings each quarter. Get the latest on the first-time homebuyer market here.

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Sales to first-time homebuyers fare best in tough quarter: Genworth In a weak first quarter, housing activity held up better for first-time homebuyers than others, according to a new Genworth Mortgage Insurance report.

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