What's Hot: Friendship Heights Food Hall Could Open This Month | Summer Ready With Quick Move-In Homes at Brookland Grove
1 in 4 First-Time Buyers Will Use Stimulus Funds for Home Purchase
The results of a recent survey confirm what many predicted would be the case for some recent first-time homebuyers: those federal relief checks are enabling them to make home purchases.
Nearly one in four prospective first-time homebuyers were able to save for a down payment using federal stimulus funds, according to a Redfin survey. The average household with children received over $6,600 in 2021 from both stimulus checks and the child tax credit.
story continues belowloading...
story continues above
“Stimulus payments provided a lot of Americans not only with necessary relief, but extra money in their pockets," Redfin Chief Economist Daryl Fairweather said in a statement. "Some people were also able to save more money than usual because they spent less on things like traveling, eating out and paying back student loans, which were paused during the pandemic. ”
A survey last year noted that 83% of young adults saved during the pandemic, and 60% of those who saved planned to use that savings for a down payment.
See other articles related to: down payment, first-time buyers, redfin
This article originally published at https://dc.urbanturf.com/articles/blog/one-in-four-first-time-buyers-will-use-stimulus-funds-for-home-purch/19246.
Most Popular... This Week • Last 30 Days • Ever
If a neighborhood is filled largely with single-family homes, chances are the market ... read »
A look at the larger residential developments in the works from Cardozo to Mount Vern... read »
The Heights, a ten-stall food hall that is taking over the spaces formerly occupied b... read »
A piece of legislation quietly introduced in the House of Representatives earlier thi... read »
The backlash over backyard pool rentals; the "housing matchmaker"; and the townhouse ... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
With a groundbreaking ceremony on Wednesday, the redevelopment of the Georgetown Wes... read »
The 23,600 square-foot mansion just hit the market, and would set a record if it fetc... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- The Four Seasons Private Residences in Georgetown Break Ground
- DC's Blaine Mansion Lists For $30 Million, A Potentially Record-Setting Price in the City
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro