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NAR annual survey reveals notable decline in first-time buyers

Nov 03, 2014
The share of first-time buyers fell to its lowest point in nearly three decades, according to the 2014 National Association of REALTORS’ Profile of Home Buyers and Sellers. The survey additionally found that an overwhelming majority of buyers search for homes online and then purchase their home through a real estate agent. 

NAR Chief Economist Lawrence Yun said there are many obstacles young adults are enduring on their path to homeownership. Rising rents and student loan debt can make saving for a downpayment more difficult. 

To learn more about the survey from NAR, click here.
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Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.