Tag Archives: First-Time Buyer

"Now that we're seeing the beginning of an affordability turnaround, home buyers are still looking for markets where they can capitalize on lower prices," says Realtor.com Chief Economist Danielle Hale.

"A greater relative share of first-time buyers is filling the gap, and they're competing against each other for the limited number of affordable starter homes on the market," said Zillow Senior Population Scientist Manny Garcia.

"Just like the weather, large local market variations exist despite the minor change in the national home price," NAR Chief Economist Lawrence Yun said.

Based on the current rate of sales, May’s inventory of unsold existing homes grew 3.8% from April to just over 1 million units, equivalent to three months of supply.

"Generally speaking, home prices are lower in expensive markets and higher in affordable markets, implying greater mortgage rate sensitivity for high-priced homes," said NAR Chief Economist Lawrence Yun.

All of the top-10 ranked cities for first-time buyers had ample inventory, short commutes, and more restaurants than average.

"First-time buyers now appear to be making relative gains as high mortgage interest rates disproportionately encourage current homeowners to stay put," said Manny Garcia, Zillow Population Scientist.

Bank of America announced its Community Affordable Loan Solution, as a new Special Purpose Credit Program that introduces zero down payment, zero closing cost mortgage solution for first-time ...

Cake Mortgage CEO David Abelyan shares his perspective on what needs to be done in the market to help alleviate the affordability issue, and what products are ideal to assist first-time buyers.  

The National Association of Realtors’ latest Existing Home Sales Report shows that home prices have now increased for 124 consecutive months.