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As the economy continues to strengthen, a growing group of young professionals is expected to buy real estate.
The number of first-time homebuyers was at a 30-year low in 2014, but Douglas Duncan, chief economist at Fannie Mae, predicts the improving economy will lead to more new homeowners, according to an article by Realtor Mag.
“[G]rowing confidence in the job market is the strongest indicator that home sales will improve,” Duncan says in the article.
“Young renters have wanted to keep their living situations flexible because they didn’t know if they were going to have to move for a job,” Duncan says. “More of them are going to be willing to put down roots if they feel more confident in the labor market.”
To read more about the housing market in the Realtor Mag article, click here.
