Because home prices have risen faster than income over the last couple of decades, it’s gotten harder for people to buy that first home. However, it is not impossible.

That was proven by the 1.7 million householders who, between 1988 and 1989, did manage to move into the first home they ever owned (“first-time owners”). This Brief compares them with the 2.7 million other owners who also moved into a home during the period, but whose home wasn’t the first they owned (“repeat owner”). Their demographic and financial characteristics, as well as the characteristics of their property, are examined.

Data were collected by the 1989 American Housing Survey (AHS). The AHS is conducted by the Census Bureau and sponsored by the Department of Housing and Urban Development.