David Banks | Home Financing Blog

A Friendly Lender that Cares & Educates

  • Home
  • Features
  • Summary
  • About
  • Contact
  • Facebook
  • Twitter
  • LinkedIn
First-Time Homebuyers are Driving the Market Forward

First-Time Homebuyers are Driving the Market Forward

May 17, 2022 By David Banks Leave a Comment

When the global pandemic turned our world upside down, few people expected the real estate and housing market to take a path that it actually took. It would be reasonable to assume that prices would face downward pressure, but exactly the opposite happened, and the market has been on fire since early 2020. This makes it quite difficult for people who are trying to buy their first dwelling find a reasonable price for their targets, but the fact is that it is exactly this drive that fuels the market towards the new high pricing points.

Key Takeaways:

  • The increase in mortgage rates has had less an impact on first-time homebuyers than on other homebuyers.
  • The strong labor market has boosted the number of 25- to 44-year-olds with earnings of $75,000 or more.
  • New homes being built have been larger and higher-priced rather than entry-level.

“While first-time homebuyer demand is driving the market forward, the lack of supply of affordable entry-level homes remains a significant obstacle.”

Read more: https://www.freddiemac.com/perspectives/sam-khater/first-time-homebuyers-are-driving-market-forward

Related posts:

  1. The Paint Color Trends We’re Ready To Ditch in 2022
  2. Pre-Qualified vs. Pre-Approved: What’s the Difference?
  3. The biggest mistakes home buyers make in a seller’s market
  4. 7 Bidding War Mistakes Today’s Homebuyers Are Making in Droves

Filed Under: Summary

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

7 Bidding War Mistakes Today’s Homebuyers Are Making in Droves

Housing market is really wild it really took off at the beginning of the … [Read More...]

An open letter to sellers about today’s housing market

To say that the market of houses and apartment is wild would be an … [Read More...]

As More Sellers Drop Prices, Is the Housing Market Finally Slowing Down?

The housing market has shifted in recent years, but not as dramatically as … [Read More...]

About · Contact · Privacy Policy
Copyright © 2023 · Home Loans by Dave (NMLS# 332232 | DRE# 01371423) | Affiliated with Integrity Mortgage (NMLS# 794419 | DRE# 01441803)