BrokerageIndustry News

First-timers are fastest-growing segment

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Editor's note: This is Part 3 in a series of stories based on an Inman News survey of nearly 200 real estate brokers. Part 3, below, details the segments in which brokerages are gaining or losing business. Part 1 explored brokers' views of the government's role in the industry, and Part 2 examines brokers attitudes about rules and policies established by the industry itself. Part 4 will look at cost-cutting measures implemented by brokerages, and Part 5 will explore what brokers see as their company's competitive advantage. 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 ...