Over the past year, the share of home purchases that were financed for first-time homebuyers has managed to increase.
In November, there were an estimated 135,000 purchases of primary owner-occupied residences financed for first-time buyers.
That was significantly more than the same month last year, when an estimated 114,000 loans were originated for first-time buyers.
The data was reported by the American Enterprise Institute.
First-time buyers accounted for an estimated 51.2 percent of last month’s government-guaranteed and private-sector home lending. That was more than 49.8 percent in November 2014.
On just government-guaranteed loans, first-time share was
56.7 percent of purchase financing transactions in November 2015, climbing from 55.0 percent in the same month last year.
AEI noted that 54 percent of first-time buyer loans were considered high risk. In November of last year, that share was 51 percent.
