First time buyers represented a record low share of home purchases in the 12 months ending in July 2015, the National Association of Realtors reported in an annual survey.
The 2015 Profile of Home Buyers and Sellers found first time buyers made only 32% of home purchases during that period. First time homebuyer market share was 33% in 2014; the July 2015 figure was the second lowest since the association's first survey in 1981.
The NAR said the lowest first time homebuyer market share of 30% was reported in 1987. The average market share for first time buyers is 40%, the association reported.
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