Genworth Mortgage Insurance has been helping first-time homebuyers become homeowners since 1981. The private mortgage insurance industry is the largest provider of private capital for first-time homebuyers, insuring 600,000 of these mortgages in 2017. We understand the first-time homebuyer segment, both the ones we serve and those served by others.
We started working on the First-Time Homebuyer Market Report in 2015. The question was both simple and important: how many homes are sold to first-time homebuyers in a given quarter? We then raised the bar higher still: by extending the quarterly series back to 1994, and reporting the latest data with a minimal lag. Our approach is different from others in that we rely on government reports and industry sources. We believe this is a breakthrough, one that will help the housing industry and policymakers gain insights into the first-time homebuyer market. This report is a testament to our commitment to the first-time homebuyer market.
-Tian Liu, Chief Economist at Genworth Mortgage Insurance