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First-Time Buyers Slip in Share of Market Says NAR
The National Association of Realtors reports that first-time buyers accounted for 38 percent of home purchases in 2013, down from 39 percent in 2012. High student debt and weak entry wages, along with unemployment concerns, curb mortgage qualification and savings for new buyers. Lawrence Yun notes their role in housing recovery remains key.
MENTIONED IN THIS ARTICLE
National Association of Realtors
NAR
Federal Reserve
Economic Policy Institute
Washington, D.C
Lawrence Yun