Reports note that nearly half, or 48.5 percent, of all GSE purchase loans in May 2018 were from first-time homebuyers. This is just slightly down from its highest level in recent history. The Federal Housing Administration (FHA) saw an even larger share of first-time homebuyers, with 80 percent of its purchase loans coming from this group of buyers. Combined, first-time buyers made up 59.3 percent of purchase loans.
Mortgage affordability has increased as well. As of June 2018, the share of median income needed for a mortgage with 20 percent down payment was 24 percent, and with 3.5 percent down payment, it was 28 percent. Home prices were also going up, though at a slower rate. The Urban Institute reports cites Black Knight data, reporting a home price increase of 6.1 percent year-over-year. Additionally, the report cites a home value increase from Zillow of 8.2 percent.