Market Watch
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Fannie director explains what’s holding housing back
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October Research, LLC’s National Settlement Services Summit (NS3) held June 9-11 in New Orleans brought together experts from across industries to look at how shifting trends are helping shape the housing market and the businesses that rely on it.
Most agree that the U.S. economic and housing sectors are steadily improving and that they will rebound to historically normal levels, for the most part, within a year or two.
But there is a segment of the population that has the potential to either supercharge the recovery, or hold it back, depending on a few variables — and there is a good chance one of these individuals might be currently living in your basement.
First-time homebuyers are making up a significantly smaller portion of the market than is historically normal — these buyers accounted for just 29 percent of all buyers in April, according to the latest data from the National Association of Realtors, which is down from a historical average of around 40 percent.
If you are looking for evidence to pinpoint why the market is still tepid, this could be considered the smoking gun.
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