Fewer first-time buyers

The New York Times reports fewer first-time buyers in the market than previously...

A survey by the NATIONAL ASSOCIATION OF REALTORS® found that only 31 percent of their sales were to first-time buyers. Normally, first-time buyers represent closer to 40 percent of the market.

Read the full story   With less inventory at the entry level as well as low inventory levels overall this trend may continue until there is sufficient supply. If the banks release more of the "shadow inventory" purported, by some, to be in existence then buyers at all levels may see some relief, however I wouldn't hold my breath given the large bulk sales that the government (FHFA) and private investors are negotiating.   Buyer's in this market need to make strong offers to be competitive, have extreme patience as multiple offers have become the norm in the entry level, have their pre-approval documentation and verification of funds to close available to submit with an offer,and have their agent find out if there are any seller preference that would give them an advantage when crafting their offer.