- - Friday, June 10, 2016

Here’s proof that young military homebuyers are putting down family stakes: Their share of the under-35 demographic is outpacing civilians, and significantly so.

In its first-of-a-kind survey, the National Association of Realtors (NAR) pointed out that “young active-service buyers (ages 18-35) bought homes at a far greater rate (51%) than non-military buyers (34%),” PleasantonWeekly.com reported.

There also was a contrast regarding foreclosure rates: “Current data shows that VA loans perform remarkably well and are a safe and affordable choice. Their current seriously delinquent and homes in foreclosure rate is 2.78% versus 3.44% for non-VA loans,” according to NAR chief economist Lawrence Yun.

Other noteworthy takeaways from the “Veterans & Active Military Home Buyers and Sellers Profile”:
* The median age of active-duty military homebuyers is 34, compared with civilian, which is 40.
* The military homebuyer is likely married with multiple children, and purchases a larger home to accommodate the larger household.
* The median income of active-duty homebuyers is $76,800, lower than people who had never served in the military, $86,500.
* The median downpayment by civilians was twice as much, 11 percent, compared with military buyers’ 5 percent.



Click to Read More

Click to Hide