Younger buyers take plunge

Persistently low interest rates and confidence in the long-term housing market have propelled a larger percentage of first-time buyers under age 25 to enter the market, according to a National Assn. of Realtors study.

The Profile of Home Buyers and Sellers revealed that the percentage of first-time buyers under 25 rose from 11% in 2001 to 14% in 2005. Unlike their baby-boomer parents and the Gen-Xers, younger buyers are not waiting for marriage before taking the homeownership plunge.

The profile also concluded that younger buyers are more likely to use Internet technology when searching for a home to buy. In 2005, the median age of those who relied on the Internet for house shopping was 38, while the median for those who didn’t was 49.