About 60% of first-time buyers purchase a property priced below $500,000 and 80% buy a home less than $750,000 (the new MID cap), so most first-time buyers will not feel the effect that tax reform exerts on home prices.

First-time Buyer Sales                        32%

Median Sales Price                             $440,000

Median Square Footage                      1,477

Median Loan Amount                         $310,000

Purchase Below $750,000                   80%

Loan At of Below $750,000                 92%

 

California Association of Realtors