FOX Business’ Katrina Campins discusses the rise in demand for mortgage refinances, who would benefit, and the impact on the real estate and housing sector.
The age of first-time homebuyers reached a new high, underscoring the significant financial hurdles faced by those attempting to enter the housing market.
The first-time homebuyers’ median age reached 38 years old, according to the National Association of Realtors’ (NAR) annual survey of buyers and sellers. That’s up from 35 years old last year and up significantly from the 1980s when the typical first-time homebuyer was in their late 20s.
This record comes despite first-time home buyer’s household income growing by $26,000 over the past two years, further illustrating the hardships of entering the housing market.
BENTONVILLE, AR IS GROWING RAPIDLY, WHICH HAS FUELED A HOT REAL ESTATE MARKET
Overall, the ages of first and…
