BrokerageIndustry News

First-timers are fastest-growing segment

Part 3: Survey shows shrinking market for second homes, move-ups
Published on Feb 2, 2010

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by CareyBot

First-time homebuyers not only account for the largest share of home sales in many markets, but represent the fastest-growing segment of home sales in nearly half of those markets, brokers surveyed by Inman News report.

Second homes and move-up homes, on the other hand, are the most rapidly shrinking segment of their business, brokers responding to the survey said.

Homes sold to first-time buyers made up the largest share of home sales for 37 percent of brokers surveyed by Inman News from Oct. 16, 2009, to Jan. 12, 2010.

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