The affordability challenge of buying a home pushed the share of first-time buyers in the market to historic lows, according to a monthly report from the National Association of Realtors. But that may be cold comfort for first-time buyers who have been increasingly pushed out of the market. The share of first-time buyers in November was 26%, down from 32% a year ago. The November report shows a continuation of trends that are pushing homeownership further away from first-time buyers, said Robert Frick, corporate economist at Navy Federal Credit Union. “If the new homeownership rate falls as prices rise, we are creating a divided society,” said Yun.

Source: CNN December 23, 2021 01:05 UTC