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U.S: Housing recovery is leaving behind first-time bBuyers

Posted on 27 November 2012

Current homeowners are finally moving up, and distressed sales are making up less of the overall market—all signs of much-needed improvement in housing. Current homeowners accounted for 54 percent of October’s non-distressed market, up from 50 percent in June, according to a new survey by Campbell/Inside Mortgage Finance.
This as the share of non-distressed sales surged to 64.7 percent, up from 55.7 percent as recently as February. Unfortunately, first-time home buyers are seeing just the opposite, largely left out of this surge in sales and prices. Their share of the market, usually up in the 40 percent range historically, fell to 34.7 percent in October, the lowest in the Campbell/IMF survey’s three-year history………………………………………..Full Article: Source


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