“Nearly one in three homebuyers in September were first-timers to the housing market, reported the National Association of Realtors on Wednesday in its Realtors Confidence Index.
That’s up from 31 percent recorded in August and down from the historical norm of 40 percent, based on research from the trade group. The share of first-time buyers peaked in 2009, when it was 50 percent.
The change can be explained by the stricter guidelines to obtain mortgages, lengthy short sales and a high rate of investor purchases that often involve cash, the report said…”
Read the rest of this article by U~T San Diego here: “Report: 32% of homebuyers are first-timers”.