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Affordable Housing , Community Development , Housing Policy Briefs , Reports and Publications

New Research Released Tracking First-Time Homebuyers

23 May 2018

In a new article published in Cityscape, a publication produced by the U.S. Department of Housing and Urban Development (HUD) Office of Policy Development a Research, First-Time Homebuyers: Toward a New Measure, researchers suggest a new measure to track first-time homebuyers. Through this new method, the researchers report a decline in the number of first time home purchases across all age groups throughout the early 2000s, with a notably sharp decline in younger first-time homebuyers. 

The researchers posit that the two primary methods used to track first-time home buyers do not provide a comprehensive picture of purchases. According to the report, this alternative approach allows for a deeper look at homebuyers, including mortgage debt, age, credit card usage, student loan debt, and auto loans. The new measure allows users to narrow in on specific age cohorts. 

The traditional methods rely on surveying homebuyers and analyzing mortgage originations, while the new measure described incorporates all sources of mortgage funding, using the Federal Reserve Bank of New York Equifax Consumer Credit Panel (CPP), as well as data estimating new and existing homes sold from HUD. 

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