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First-Time Home Buyers at Near All-Time Low
According to the National Association of Realtors, first-time buyers made up just 26% of the market in 2022 down from 34% the year prior. The typical first-time buyer was 36 years old up from 33 in 2021. In Naples, Florida, where the average age is 66 years old and the medium household income is 125 grand, 56% of homes were bought with cash.