My very best to you as you prepare for time with family and friends to enjoy the Thanksgiving holiday. In our professional lives we have a lot to be thankful for, having endured some of the most critical and challenging economic times this year that we’ve ever seen. But there is some good news.
The number of first-time home buyers rose to 47 percent of all home sales during the past year, up from 41 percent last year, according to NAR’s 2009 Profile of Home Buyers and Sellers. The increase marked the highest on records dating back to 1981. The previous high was 44 percent in 1991.
These buyers are critical to housing and a general economic recovery because the market always heals from the bottom up – they absorb inventory, free existing owners to make a trade and stimulate related goods and services.
Happy Thanksgiving!
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