Realtor survey reveals military homebuyer trendsRealtor survey reveals military homebuyer trendshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=131072016-05-06T05:00:00Z2016-05-06T16:00:00Z

​​​​WASHINGTON, D.C. – ​Results of a recent survey from the National Association of Realtors show that young active-military homebuyers are purchasing homes at a greater rate than non-military buyers. Not only that, they're buying larger, more expensive homes.​

With Texas being home to so many military installations, this is useful information for residential real estate agents here.

According to the association's first-ever Veterans & Active Military Home Buyers and Sellers Profile:

  • Young active-military buyers (ages 18-35) bought homes at a higher rate (51 percent) than non-military buyers (34 percent). 
  • At a median age of 34, the typical active-military buyer was a lot younger than non-military buyers (40 years old) and was more likely to be married and have multiple children living in their household. As a result, they typically bought a larger home that cost more than those purchased by both non-military buyers and veterans. 
  • Veterans Affairs (VA) loans were the most popular loan type for active-military and veteran buyers.
  • Because of VA loans, which offer over 100 percent financing for veteran and active-military buyers, only 5 percent of veterans and 3 percent of active-military buyers said saving for a down payment was the most difficult step.
  • Of those, only 4 percent of veterans and 13 percent of active-military buyers said student loan debt delayed saving. Sixty-two percent of veterans cited having other types of debt, and 43 percent of active-military referenced credit card debt.​
National Association of Realtors®
http://www.realtor.org/news-releases/2016/05/nar-survey-active-military-homebuyers-purchase-at-younger-ages-buy-larger-and-more-expensive-homesRead more at {Source}

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