Realtor.com identifies top locations for first-time homebuyers based on affordability, strong local economies, family-friendliness, and investment potential. The report comes as Zillow predicts a more active market in 2025 with increased inventory, giving buyers more negotiating power.
Buying a home for the first time is a significant milestone that shouldn't be taken lightly. Selecting a location that aligns perfectly with a homebuyer's vision for their future can be daunting. Realtor.com has compiled a list of the best markets for first-time homebuyers in 2025, aiming to assist individuals in this crucial decision.
The highlighted locations offer promising opportunities for first-time buyers in terms of housing affordability, available inventory, and the overall quality of life. Realtor.com's list is based on several key factors, including affordability, robust local economies, vibrant communities that are also family-friendly, and potential for investment return. The company acknowledges that even in these favorable markets, buyers may need to make compromises to achieve their homeownership goals. Ultimately, the best place to buy will depend on individual priorities and family needs. The real estate market is expected to show more activity in 2025, with increased inventory, according to Zillow. This trend could provide buyers with greater negotiating power. Zillow predicts a more balanced market with modest home value growth, around 2.6%, in 2025. This growth rate is similar to that seen in the previous year. Experts anticipate a less competitive buying environment in 2025 compared to 2024, when affordability challenges made the market particularly tough. The average long-term U.S. mortgage rate has recently risen to its highest point since July, reaching 6.93% for a 30-year fixed-rate loan. This increase reflects a broader trend in bond yields, which influence mortgage rates. Despite these higher rates, existing home sales have seen a positive uptick in November, exceeding economist expectations.
FIRST-TIME HOMEBUYERS REAL ESTATE MARKET AFFORDABILITY INVENTORY INVESTMENT OPPORTUNITIRS
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