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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 home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.