According to The Wall Street Journal, the number of homes sold to first-time buyers declined to its lowest level in three decades.
“[It’s] raising concerns that young people are being left out of an otherwise strong housing-market recovery,” writes reporter Laura Kusisto.
This year, first-time buyers make up 32 percent of all purchasers, a fall from 33 percent last year, and the third straight annual decline, a report released by the NAR revealed.
Ever since the NAR started recording such data in 1981, the historical average of first-time buyer share in total home sales is 40 percent.
