Number of first-time home buyers is increasing

Falling prices and lower interest rates allow for a very buyer-centric housing market. The first-time home buyer has the opportunity to shop without having the additional concerns of selling their current home.

Low home prices and excess supply helped drive a rise in first-time U.S. home buyers and reduce excess inventory, according to a study released Saturday by The National Association of Realtors.

According to the survey, which was released at the 2008 Realtors Conference & Expo, the number of first-time buyers rose to 41 percent from 39 percent of all transactions in 2007.

"First-time buyers are much more flexible in entering the market because they aren't concerned about selling an existing home," National Association of Realtors Chief Economist Lawrence Yun said in a statement.

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