First-Time Buyers Going After Existing Homes
The total number of existing home sales decreased in November but were high among first-time buyers, the National Association of Realtors stated in its monthly report.
Total existing home sales came in at a seasonally adjusted rate of 4.93 million units in November, down from 5.25 million units sold in October. However, 31 percent of first-time buyers purchased an existing home in November, up from 29 percent during the previous month.