Return of the First-Time Homebuyer?
Lawrence Yun, Chief Economist of the National Association of Realtors, sees 2015 as a potential turnaround point for the return of the first-time homebuyer. While the recovery thus far has primarily been concentrated on the upper end of the market, Yun cites factors such as stronger job creation, loosening mortgage underwriting standards and the return of 3% mortgage products as reasons why first-time homebuyers could come back in larger numbers in 2015.
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