First-Time Homebuyer Market Share Remains Steady

Over the past several months, the media has reported obstacles that are standing in the way of first-time homebuyers from snatching up great deals on distressed properties while interest rates are at all-time lows. Some of these obstacles include “higher down payments, tougher credit requirements and mortgage approval delays.” Yet, contrary to what some critics believe to be hindrances for first-time homebuyers, a survey of real estate brokers by the National Association of Realtors reveals that the first-time homebuyer market share has remained steady at 32% to 36% over the past seven months.

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