Real Estate for Everyone with Kristina Smallhorn

51 - Housing Is In Trouble As First Time Buyers Dip Out Of The Market


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Less than 25% of homes in the U.S. are being sold to first-time buyers, marking an all-time low. High home prices, averaging $501,000, and interest rates between 6-7% are major hurdles for prospective buyers. While housing inventory has increased slightly, the market remains tough for younger buyers, with the average homebuyer now 56 years old. Corcoran believes that a drop in interest rates to 5% could ignite the market, while rates rising to 7% would likely slow it down significantly.

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THIS PODCAST ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.

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Real Estate for Everyone with Kristina SmallhornBy Kristina Smallhorn

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