Posts Tagged first time buyers

Mismatched Markets and Tight Supply – How Buyers Can Cope With These Housing Market Challenges

As the highly anticipated spring housing market begins, an increasing number of local housing markets are revealing mismatched features – that is, they’re not offering what buyers in their market are looking for. According to a recent report from CNBC, a mismatched market is where “the type of available supply is not in balance with the current type of demand.” With supply already tight throughout much of the nation, these mismatched markets are facing double trouble. According to the CNBC report, some markets are more mismatched than others, and some price points are more mismatched than others. Specifically, there appears to

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2 Things First Time Home Buyers Need to Know About Mortgages

millennial couple sits on front steps of house

If you’re thinking about buying your first home, congratulations! Buying a home is an exciting milestone and can be an important step in building your wealth and putting down roots. But if you’re like most people, you’ll need a mortgage to help you finance your home purchase — and getting a mortgage may be a little less exciting, but no less important. Although there are numerous important facts that every consumer should understand about mortgages, there are a few key points first timers should know.

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Despite challenges, 2016 was the best year for existing-home sales in a decade.

Although the U.S. real estate market continues to deal with certain struggles (low inventory, rising prices, etc.), 2016 was officially the best year for existing-home sales in the last 10 years. Last year’s distinction is based on recently released data from a report from the National Association of Realtors (NAR). According to the report, 2016 saw an impressive 5.45 million sales of previously lived-in homes — the highest since 2006 when there were 6.48 million existing homes purchased. These figures are seasonally-adjusted, meaning they are smoothed out over the 12 month period to balance out common seasonal fluctuations in the real estate market

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