29.03.2011 - US: Fewer first-time home buyers hurt market
Many first-time home buyers are sitting on the sidelines of the U.S. housing market, hampering its ability to gain traction. Last month, 34% of existing-home purchases were made by first-time buyers, according to the National Association of Realtors. In January, they were 29% of the market, the lowest since NAR surveys started tracking them monthly in late 2008. In healthy markets, first-time buyers make up 40% to 45% of all purchasers. They play a critical role in buying starter homes so those owners can buy more expensive homes...........................................Full Article: Source
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