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First-time home seekers on a bumpy road

Per / Flickr
Per / Flickr

By Kent Hoover | Phoenix Business Journal

Here’s a troubling trend for the housing market: First-time buyers now account for only one-third of all home purchases, the lowest share since 1987.

That’s according to an annual survey conducted by the National Association of Realtors, which questioned a random sample of people who purchased homes between July 2013 and June 2014.

It’s not just not as easy as it used to be for young adults to purchase a home, said NAR Chief Economist Lawrence Yun.

http://www.bizjournals.com/phoenix/news/news-wire/2014/11/03/where-have-all-the-first-time-buyers-gone.html

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.