In recent months, first-time home buyers have represented about one-third of the market. Despite concerns about the general economy, those buyers clearly place a high premium on the value of owning their own home.
According to the 2010 NAR Profile of Home Buyers and Sellers, 53 percent of first-time buyers were motivated by their desire just to own a home of their own. Low mortgage rates, rising incomes and stable prices helped them achieve those goals; 33 percent of firsttime buyers bought a home when they did primarily because they thought it was the best time for home affordability.
All they want is a room somewhere… Talk to recent home buyers in your area to find out if owning a home has meet with their expectations thus far. Talk to first-time buyers going through the process. How is it different from their expectations? Why did they decide to invest in a home? What are their longterm goals?