ATTOM Data Solutions recently released its Q1 2019 Home Sales Report, which broke down various datasets on how the housing market is fairing. The first quarter of 2019 gave insight into median sales prices, seller gains, cash sales, institutional investor sales, REO sales, third party foreclosure auction sales, short sales, total distressed sales and homeownership tenure. With all these data points to talk about, some data points get lost in the mix. Therefore, ATTOM took another deep dive with data and decided to look at FHA Sales.

An FHA loan is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA). There are many factors that go into an FHA backed loan, some of which make it more popular among first-time homebuyers. Therefore, when wanting to find out where first-time homebuyers are migrating, looking at the share of FHA sales is typically a good indicator.

FHA buyers share drops 7 percent from last year

Sales to FHA buyers represented 10.9 percent of all U.S. single family and condo sales in Q1 2019, up from 10.8 percent of all sales in the previous quarter but down from 11.8 percent in Q1 2018 to the 8th consecutive quarter with annual decreases.

Among metro areas with a population of at least 1 million, those with the highest share of sales to FHA buyers were Indianapolis, Indiana (18.5 percent); Riverside, California (18.0 percent); Houston, Texas (17.3 percent); Providence, Rhode Island (16.2 percent); and Hartford, Connecticut (16.2 percent).

Top 10 Counties with the Highest Share of FHA Sales

ATTOM crunched the numbers and looked at those counties in the first quarter of 2019 the had the highest share of FHA sales. Of course, we made sure to only look at counties with at least 10 or more FHA sales in the first quarter of 2019.

Topping off the list was Ector County, located in the Odessa metro area in Texas with a share of 41.6 percent of all sales being FHA sales in the first quarter of 2019. Followed by Jefferson county in the St. Louis metro area in Missouri with 31.1 percent, Tooele county in the Salt Lake City metro area in Utah with 28.7 percent, Porter county in the Chicago metro area in Illinois with 28.5 percent and Lake county also in the Chicago metro area with 28.2 percent of all sales being FHA sales.

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