Should We Worry More About Repeat Buyers vs First-Timers?

Posted To: MND NewsWire

To understand the top-line story in the Urban Institute's (UI's) latest Chartbook released on Monday one has to go back to another UI paper published more than a year ago. In the article the UI's Housing Policy Center's director, Laurie Goodman, and fellow researchers claimed that the share of first-time homebuyers was in reality much higher than other research, notably that of the National Association of Realtors® (NAR) had asserted. NAR has consistently said that these homebuyers typically represent 40 percent of buyers in a healthy market and has reported the share as remaining below this mark since mid-2010. Indeed, for several years NAR has put the share at 30-32 percent and continued to do so in its latest existing home sales report released last week. Goodman and her team contended...(read more)

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