The report lists markets based on the percentage of home sales in the area made to first-time buyers with Federal Housing Authority-insured (FHA) loans last year. FHA loans are popular with first-time buyers because they can be used to purchase homes with as little as 3.5 percent down. Therefore, the percentages used to select and rank these markets do not include all first-time buyers in that market. Moreover, the type of buyer attracted to FHA loans, which require a lower down payment and less stringent qualifying terms, is likely to affect the mix of markets chosen in this report.

The Top 10 areas (ranked by highest share of first-time-buyer FHA loans) are:

1. Wilmington, Del.-Md.-N.J.
2. Charleston, W.Va.
3. Visalia-Porterville, Calif.
4. Merced, Calif.
5. Fresno, Calif.
6. Hagerstown-Martinsburg, Md.-W.Va.
7. Modesto, Calif.
8. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
9. Atlanta-Sandy Springs-Marietta, Ga.
10. Camden, N.J.

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