The key to fueling first-time homebuyers

William Neuheise / Flickr
William Neuheise / Flickr

By Drew Sandholm   | CNBC.com

Though homebuyers are gaining confidence, changes are needed to bring first-time purchasers back to the market, a real estate executive told CNBC on Wednesday.

Richard Smith, CEO of Realogy, the leading franchiser of real estate brokerages Century 21, Coldwell Banker, ERA, Sotheby’s International and ZipRealty, said two things need to happen to bring the share of first-time homebuyers back from a near 30-year low.

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