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First-time home buyers have helped improve the housing market, representing around 40% of sales over the last 30 years, according to the National Association of Realtors. Experts believe that first-time home builders are the stepping stones to a full housing recovery. Steven Ricchiuto, chief economist with Mizuho Securities USA Inc said, “First-time buyers are important to get the housing market to move to a new plateau, without them, you just get stuck at a marginal recovery environment.” Additionally, last months first-time home buyers accounted for approximately 29% of existing home purchases. More here
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