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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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New York first quarter statewide home sales strong 
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With 25,192 closed sales across the Empire state in the first quarter, the housing market posted a strong start to 2018, even as it fell short of 2017’s record. The first quarter 2018 statewide median sales price of $260,000 represented an increase of 7.4 percent from a year ago. Click here to read more.

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