First-time Home Buyers flood the market in May

According to the National Association of Realtors (NAR) most recent Existing Home Sales Report; 32% of all home sales in the month of May were comprised of first-time buyers. This marks the highest share since September of 2012. According to NAR’s Chief Economist, Lawrence Yun: “strong job gains among young adults, less expensive mortgage insurance and lenders offering low down payment programs,”  are among the main reasons for this influx in first-time buyers.

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