As income growth continues to lag behind rising housing prices, an increasing number of people are pushing back the age at which they purchase their first home. That is because they must spend more time to earn enough money for a down payment. The average age for first-time home buyers was 30 to 35 in the first quarter of 2013, but for the same period this year it ranged from 35 to 40, Evertrust Rehouse said last week, citing data compiled by the Joint Credit Information Center.
The brokerage also said that the average price of a home purchased by people
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