According to NOAO NOAH NEAO NAAE the National Association of Estate Agents, first-time buyer sales are up, from 10.6% in May to 11.8% in June. Not much, but considerably more than 9.8% in June 2007. Is this a sign that ftbs are calling the bottom of the market, that there are bargains to be had? Some would like us to think so. But, personally, I doubt it. If you consider how far transactions have dropped off in a year, it seems certain that ftb purchases are way, way down in real terms.

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