Guardians of Grail

cheapbag214s

First-time buyers getting priced out of U.S. housing recovery
CHICAGO, July 23 () -- The U.S. housing recovery is increasingly pricing first-time home buyers out of the market, data provided by the National Association of Realtors indicates.NAR released a home sales report indicating people in their late 20s and early 30s accounted for only 30 percent of buyers in the past year,[url=http://www.myeduhelp.com/]christian louboutin outlet[/url], The Wall Street Journal reported Tuesday.In 2009, first-time buyers accounted for more than 50 percent of sales when recession-era tax credits fueled the real estate market. In the past 30 years, they've averaged 40 percent of sales. "First-time buyers are important to get the housing market to move to a new plateau," said Steven Ricchiuto, the chief economist for Mizuho Securities USA Inc. "Without them,[url=http://www.myeduhelp.com/]christian louboutin booties[/url], you just get stuck at a marginal recovery environment."Overall, sales of existing homes fell 1.2 percent in June to a seasonally adjusted annual rate of 5.08 million,[url=http://www.leedpe.com/]louboutin shoes sale[/url], down from 5.14 million in May but up 15.2 percent from June 2012.The national median price for an existing home was $214,200 in June, up 13.5 percent from a year ago, the association report said.