The housing market has seen higher home sales and median prices in recent months, but the number of first-time home buyers entering the market has seen a decline, according to the 2015 Profile of Home Buyers and Sellers from the National Association of REALTORS® (NAR). First-time buyers accounted for 32 percent of all buyers, down from 33 percent a year ago. NAR Chief Economist Lawrence Yun said low housing inventory, higher home prices and difficulty saving for a down payment or qualifying for a mortgage can all be hurdles to first-time buyers. Read more from NAR.
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