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Urgency increases for first-time buyers

Apr 27, 2017
New buyers are gradually increasing their stake in the housing market. First-timers comprised 32 percent of existing-home sales in March, up from 30 percent a year ago and 29 percent in 2014, according to last month’s REALTORS Confidence Index. 

The looming threat of interest rate increases may be prompting more buyers to enter the market this year. Sustained job and income growth is also playing a role. 

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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.