The First Time Buyer Is Back!

Between 2001 and 2004, the number of duplex / townhouse / condo sales increased drastically from 203/year to 644/year.  Many of these sales were first time buyers, eager to latch onto the rapidly increasing home value trend.

Between 2005 and 2011, the number of buyers per year dropped just as significantly, all the way down to 179 buyers per year in 2011. 

Now, however, we have seen a steady increase in duplex / townhouse / condo buyers over the past four years --- and much of this increase is a return of the first time buyer.  Low interest rates, and home values that are not declining any longer, have both drawn first time buyers back into the market again in larger numbers than in some recent years.