Iowa

iEmergent Sees First-Time Buyers Taking 22% of 2009 Sales 

First time home buyers (FTHBs) will represent 22.3% of all homes sales in 2009, according to estimates from iEmergent, an Iowa-based market research firm. In the forecast, lenders will grant 955,000 loans to first time buyers this year, generating $133bn nationwide. iEmgergent predicts more FTHB loans if the $8,000 first-time home-buyer tax credit is expanded. If that credit is granted but not extended beyond Dec. 31, 2009, FTHB purchases should sharply spike in the later months of 2009.