US First Time Homebuyers Surge

US first-time homebuyers have surged in the past year, from July 2008 to June 2009, as government tax incentive programs continue to fuel increases in the sales for several consecutive months.

It was also learned that single female has accounted more than 21 percent of the total sales for the said period.

A new industry survey released on Monday showed that the number of first-time homebuyers, particularly single women, have increased by more than 47 percent from July 2008 to June 2009.In a survey conducted by the National Association of Realtors, first-time buyers for the said period have increased by six percent compared to the previous year record.

The survey, which was answered by some 9, 000 respondents, has tackled everything about buying a home in the United States, including payment scheme offered by the real estate agents.The results are welcomed by the housing market, citing the significant role the single female market has played in the continuous growth of the sector.

Due to the housing incentives being offered by the US government, home sales and prices of houses have shown signs of stabilization for 10 consecutive months with tax incentives such as that of the Obama administration fueling activity in the market.

Thousands of first-time home buyers were able to take advantage of the $8, 000 tax credit, which has been extended by the government to keep support at the ailing housing market until it reaches stable condition.With this, the housing sector said that they remain hopeful that powerful single women will continue help drive the growth of the market after registering some 21 percent of the total number of buyers in the said period.


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