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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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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.