Realty Check

Credit cuts out would-be homebuyers

Nadya Lukic | E+ | Getty Images

Investors may be reaping the rewards of the housing recovery, but regular buyers, especially single and first-time buyers, are still on the outside looking in.

Tight credit has kept some financially qualified buyers from getting the loans they need, according to a new survey from the National Association of Realtors. The overall market share of single buyers fell from 32 percent in 2010 to just 25 percent today, according to the report.

"Single home buyers have been suppressed for the past three years by restrictive mortgage lending standards, which favor dual-income households who are more likely to have higher credit scores," noted Lawrence Yun, chief economist for the Realtors.

(Read more: Housing's top 'turnaround' markets)

First-time buyers, who usually represent 40 percent of the market, have been falling steadily out of the market, especially lately, with the surge in mortgage rates. While this annual report puts them at a 38 percent share, the Realtors' September home sales report shows they bought just 28 percent of the homes sold in the month.