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I was very surprised to see the statistics that the number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year's study, and was the highest on record dating back to 1981. Moving from the previous high of 44% set in 1991.With these first time home buyers they also ended up buying houses in the median price range of 156,000 down 10,000 from the year previous. Most of those first timers financed their home with FHA financing which seems to be the norm nowadays. With conventional financing requiring more down, the … (4 comments)
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