The Real Deal Miami

Many homebuyers this year will be first-timers

March 24, 2009 04:48PM

More than half of Americans who plan to buy a home this year will be first-time homebuyers, according to a survey by Move, an online real estate information service. In 2008, first-time homebuyers made up 41 percent of buyers, according to the National Association of Realtors. The Move survey also found that nearly 80 percent of Americans do not plan to buy a home in the next five years, and that one in five homeowners with mortgages hope to modify their loans.