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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 State home sales up 11 percent through first three quarters of 2016

The Empire State’s housing market has posted an 11-percent jump in home sales though the first nine months of 2016 compared to the same period in 2015.The year-to-date statewide median sales price grew 3 percent compared to last year. Click here to read more.