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First-time buyers fall in NAR annual buyer and seller survey

Nov 09, 2015
The share of first-time buyers declined for the third consecutive year and remained at the lowest point in nearly three decades, according to the National Association of REALTORS’ 2015 Profile of Home Buyers and Sellers survey. The overall strengthening pace of home sales over the past year was driven more by repeat buyers with dual income. 
 
In this year’s survey, the share of first-time buyers declined to 32 percent (33 percent a year ago), which is the second-lowest share since the survey’s inception in 1981 and the lowest since 1987. Historically, the long-term average shows that nearly 40 percent of primary purchases are from first-time homebuyers. 
 
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NYS housing market sets October sales record

There were 12,178 closed home sales across New York State during October, setting a new record high for the month. The previous October sales record was 11,926 in October 2015. The statewide median sales price grew by 9.1 percent in October compared to October 2016. Click here to read more.

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