Pursuits
Share of First-Time Homebuyers Falls in U.S., Now at 28-Year Low
- Buyers making first purchase drop to 32% of housing market
- Rising prices holding back young shoppers, Realtors group says
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The portion of U.S. homebuyers making their first residential purchase fell for a third straight year, and is now at the lowest level since 1987.
The share of first-time buyers dropped to 32 percent from 33 percent last year, according to a National Association of Realtors survey that covered transactions in the 12 months through June. That’s below the long-term average of almost 40 percent, the group said in its report, released Thursday.