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NAR annual survey reveals notable decline in first-time buyers

Nov 03, 2014
The share of first-time buyers fell to its lowest point in nearly three decades, according to the 2014 National Association of REALTORS’ Profile of Home Buyers and Sellers. The survey additionally found that an overwhelming majority of buyers search for homes online and then purchase their home through a real estate agent. 

NAR Chief Economist Lawrence Yun said there are many obstacles young adults are enduring on their path to homeownership. Rising rents and student loan debt can make saving for a downpayment more difficult. 

To learn more about the survey from NAR, click here.
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NYS home sales post second-highest May total

Homebuyer activity remained strong in May, driving the New York State housing market to the second-highest sales total for the month with 10,348 closings. May 2018 closed sales were 8.6 percent lower than the record of 11,322 set in May 2017. The median sales price growth trend continued, increasing by 11.5 percent compared to last May, ending the month at $262,000. Click here to read more.

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