As investors and cash buyers back off, analysts project that a renaissance of first-time homebuyers is approaching.
An average of 15.2 percent of a home’s sales price in down payments was put down by borrowers in the last quarter of 2014. This is a small dip from the post-housing crisis peak of 16 percent in 2013, data from RealtyTrac indicates.
“I think it proves the point that the policy makers are trying to address, that first-time homebuyers have not been a big part of the recovery," RealtyTrac Vice President Daren Blomquist told MSN Money.
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