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Report: First Time Home Buyer Activity Up

  

A new report suggests investor-driven housing sales are fading and first-time home buyers are stepping in to pick up the slack.

When researchers track the activity of first time home buyers they often look at the percentage of Federal Housing Administration, or FHA, loans. That's because those are typically low down payment loans used by new buyers or people without equity. 

Nationwide, FHA loans accounted for 22 percent of all financed sales in the first half of 2015. In the Sacramento area it's more - 28 percent. That's the 8th highest in the country.

Meanwhile, banks are buying fewer homes. Institutional investors accounted for only 1.1 percent of Sacramento area home sales from January to June. That was down from 3.6 percent in the same period last year and down from 8.1 percent in 2013.

The data come from research firm RealtyTrac.