First-time home buyers are staying away from the housing market for a variety of reasons, from rising home prices, to fear, to a general lack of information. MarketWatch staffer Andrea Riquier takes a look at the apprehension of this demographic.While they typically represent 40% of home buyers, first-timers fell below 30% during 2015. These numbers have continued to drop since mid 2010 and first-time home buyers straying from the housing market has led to problems for other portions of the market:For the housing market, meanwhile, first-timers represent fresh demand. Without them, current homeowners can’t sell homes and move up; without move-up transactions, many older people can’t sell and downsize as part of retirement.
For more information, on the declining number of first-time buyers in the housing market, head over to MarketWatch: