First-time buyers losing out as home sales rise,

First-time buyers losing out as home sales rise,

First-time home buyers accounted for 28 percent of existing-home purchases in May—down from 34 percent a year prior, according to the National Association of REALTORS®. Traditionally, first-time home buyers account for four of 10 home buyers, so their dwindling numbers are alarming some housing analysts and economists. 

As home prices rise, first-time home buyers may increasingly get left on the sidelines. Home prices have posted double-digit gains in the last year in many markets, and average mortgage rates are ticking up above 4 percent. Some first-time home buyers may have already missed the prime conditions to jump into home ownership.

U.S. home prices have risen for 14 straight months, but one set of buyers has been increasingly on the sidelines: first-time home buyers. 

Rising Rates soared to a two-year high last week.