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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 home sales reach second-highest October total

Home sales in the Empire State dipped slightly from one year ago, but still hit the second highest total on record for October. The 11,201 closed sales in October 2016 represents the second highest total for the month after the 12,003 sold in October 2015. Click here to read more.

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