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New buyers hold the keys to recovery

ERIC RUTH Delaware Online
The News Journal/JENNIFER CORBETT. First-time home buyer Allison Rainey, 27, takes her final walk-through Thursday before closing on her home in Wilmington's Highlands neighborhood. Rainey and others are helping revive Delaware's residential real-estate market.

The News Journal/JENNIFER CORBETT. First-time home buyer Allison Rainey, 27, takes her final walk-through Thursday before closing on her home in Wilmington's Highlands neighborhood. Rainey and others are helping revive Delaware's residential real-estate market.


Allison Rainey is a quiet sort of woman, a 27-year-old veterinary technician with a pair of spaniels and a dream of owning a home. Yet, in a small way, the fate of Delaware's economy may rest on people like her.



It's Rainey and first-time home buyers like her who are helping to lift the Delaware residential real-estate market from its long, rocky slide, real-estate agents say.

Signs of renewed -- if restrained -- vigor in the housing market this spring have been spurred by first-timebuyers, many who have been waiting on the sidelines for months for prices to bottom out, credit markets to loosen up and job security to solidify.

Rainey finally pulled the trigger this week, closing on a home in Wilmington's Highlands, a step made possible for her and many others by an alignment of market-driving factors -- low interest rates, an $8,000 federal tax inventive for first-time buyers and the best housing prices in years.


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