Repeat Buyers: The growing ranks of repeat home buyers are helping to drive the housing recovery, making up for the dwindling numbers of first-time buyers.
Repeat home buyers accounted for 54 percent of existing-home sales in June, up from 49 percent just one year prior, according to the National Association of REALTORS®. Meanwhile, first-time buyers — who usually account for 40 percent of the market share — shrank to 29 percent in June. A lack of lower-priced homes and strict lending requirements are edging more first-time buyers out of the market.“What we’re seeing are these buyers who’ve waited around and who have finally realized this is a good time to move,” Slowdown in Home Prices No Reason to Panic? Prices are still going to rise
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