NAR: % of Young Homebuyers Rising

Consumers in their 20s are more likely to buy a home than their older siblings and baby boomer parents were at the same age, according to the National Association of Realtors.Many are not waiting for marriage or a long-term relationship before becoming homeowners, the NAR reported in "Tomorrow's Buyers: Who They Are and What They Want" in the September issue of Realtor Magazine. "The next generation of homeowners is beginning to exert its influence on the housing market," said NAR president Thomas M. Stevens. "Many younger buyers have seen the wealth-building effects of homeownership in their parents and understand the value of housing as a good long-term investment." The NAR said the percentage of first-time homebuyers under the age of 25 rose from 11% in 2001 to 14% in 2005. The association can be found online at http://www.realtor.org.