Sales to first-time homebuyers accounted for 32 percent of residential sales in February, which was off from 33 percent in January but higher than 30 percent from the comparable month in 2016, according to the Realtors Confidence Index Survey Report from the National Association of Realtors.
The expectation of more hikes for mortgage interest rates may have prompted entry-level buyers to decide to buy, producing the modest increase. The report also includes a breakdown of buyers by age distribution and by buyers that previously rented, lived with parents, relatives, or friends, or previously owned.
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