A recent study by the National Association of REALTORS (NAR) shows first-time homebuyers reached their highest market share on record during the past year.

The number of first-time buyers rose to 47 percent of all home sales, up from 41 percent in the previous year's study.

“These buyers are critical to housing and a general economic recovery, because the market always heals from the bottom up," according to Paul Bishop, NAR Vice-President of Research.

"(First-time buyers) absorb inventory, free existing owners to make a trade, and stimulate related goods and services," he added.

The most recent figure is the highest on record dating back to 1981. The previous high was 44 percent in 1991.

An independent review of VHFA’s single-family home loan portfolio shows property values increased by 24 percent compared to values at time of purchase.

The median increase in individual home values in VHFA’s portfolio was 14 percent.

“During this recession we’ve heard a lot about homes dropping in value, but properties in VHFA’s portfolio are doing well. This is evidence of the fiscal strength of the Agency,” said Executive Director Sarah Carpenter.

“This is the first time the Agency has commissioned a report such as this, and the results were stronger than expected.”

Read the nitty-gritty in our press release (PDF).

Former VHFA Board of Commissioners chairman Stewart Ledbetter passed away last Thursday at 76.

Stewart chaired the VHFA Board in the late 1970s, while Commissioner of Vermont's Department of Banking and Insurance.

In 1980, he lost by a narrow margin when he ran for the U.S. Senate as a Republican against Democrat incumbent Patrick Leahy.

Funeral services are set for tomorrow in Vero Beach, Fla.

The TD Charitable Foundation announced three Vermont organizations will receive a total of $60,000 to support affordable housing: Champlain Housing Trust Inc. (CHT), Regional Affordable Housing Corp. and Windham Housing Trust Inc. (WHT).

Nationwide, 56 winners were selected in the 5th annual “Housing for Everyone” competition, which will award a total of $2 million for housing.