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Millennials flood FHA loan market

Mar 08, 2017
Millennials are becoming a powerhouse in the real estate market, accounting for 84 percent of closed loans in January. And they’re increasingly turning to Federal Housing Administration loans, those that offer low down payment options, to achieve homeownership. In January, 35 percent of millennials used an FHA loan, according to Ellie Mae’s Millennial Tracker. 
 
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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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