Builder
During the past 10 years, three million first-time home buyers have been sidelined, according to Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. (NYSE: GNW). Now those buyers are jumping into the market, with both feet, according to the company’s inaugural First-Time Homebuyer Market Report.
The new report traces the first-time home buyer market back to 1994, analyzing more than 20 million records of first-time home buyers from mortgage origination data. It is the first report to track home sales to first-time home buyers on a monthly basis and report at quarterly intervals, allowing for first-time home buyer data to be compared against national housing market indicators. Additionally, it is the first report to separately identify first-time home buyers enabled by low down payment mortgages, such as conventional mortgages with mortgage insurance coverage, FHA loans, VA loans, and USDA loans.
