Declining demand from first-time buyers threatening recovery

Declining affordability and tight lending conditions are gumming up the housing recovery by locking out an increasing number of first-time homebuyers, Bloomberg reports.

First-time buyers accounted for 26 percent of purchases in January, the lowest level recorded by the National Association of Realtors (NAR) since it began tracking the data in October 2008, according to the news outlet.

Source: Bloomberg


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