Urgency increases for first-time buyers
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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