Who are First Time Homebuyers?

This beautiful springtime weather has been attracting buyers to our open houses every weekend. But who are these people?
The National Association of Realtors just came out with the results of a 2007 survey of the top 7 characteristics of first time home buyers.
They purchase almost 40 percent of all residential real estate.
They have been the leading edge of home sales since 1995.
51% are married; 25% are single females; 11% are unmarried couples.
Over 50 percent are between ages 25-34.
Household Income - 38% make between $45,000 - $75,000.
Race: 76% White/Caucasian - 10% African-American - 8% Hispanic - 6% Asian.
75% first time home buyers lived in an apartment prior to buying 1st home.
Looking at these statistics, you can see that California differs from the national norm. Demographically, our new buyers are primarily Asian and East Indian families, and even with the help of special first time buyer loan programs, income would have to be at least twice the national figures in order for buyers to qualify for home prices in this area.