First-Time Homebuyers: Toward a New Measure

Arthur Acolin, Paul S. Calem, Julapa Jagtiani and Susan Wachter

No 17-36, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: Existing data sources show divergent estimates of the number of homes purchased by first-time homebuyers as a share of all home purchases. In this paper, we use a new data set to construct a time series of the share of first-time homebuyers. This series, based on the Federal Reserve Bank of New York Equifax Consumer Credit Panel (CCP), shows a significant decline in this share, particularly for young households, which is consistent with the decline in homeownership in this age cohort since the early 2000s.

Keywords: first-time home buyers; homeownership; credit access; housing market trends (search for similar items in EconPapers)
JEL-codes: R30 R31 R38 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2017-10-09
New Economics Papers: this item is included in nep-ure
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