was the annual home price growth in June. A key index showed it remained near an 11-year low.is the average age of a first home buyer. The 30-34 age bracket is the largest cohort of home loan applicants this year.| Home loans applications in the United States have declined to their lowest level in 27 years, freezing residential property sales and cooling price growth, but also leaving the door open for first home buyers.
About 60 per cent of US mortgages are locked in at rates below 4 per cent, and 25 per cent of mortgages are struck at less than 2.75 per cent, providing a powerful incentive for homeowners to delay moving or selling their house as that would likely trigger a refinancing.hasn’t stopped first home buyers from diving in, according to CoreLogic chief economist Selma Hepp, who says they now make up half the market.
In Seattle, where home prices have fallen 11 per cent in the year to June, Sothebys Realty agent Chris Bierrum said first home buyers are few. “I tried to buy my first home in February 2021. The price was $392,000. The same house at this moment is almost $600,000.”