boston

Behold Buyers! There's a light at the end of the tunnel.

things are looking up for first time homebuyers

It's been a seller's market for over a year now. While great for homeowners and the US economy, one must ask; what about the first-time home buyers?

Well, it definitely has not been an easy year for them. With more home buyers and a limited inventory, we have seen bidding wars and ultimately, higher prices. Americans owning homes has fallen this year to 63.8%, the lowest level since 1989.

Oddly enough, higher prices might actually be the answer to our problems. Higher prices encourage more owners to put their homes up for sale, shifting the market to a more balanced state. This, combined with lower mortgage rates and easier access to credit, buyers should feel some relief in the months to come. 

Don't get too excited, demand is still high and supply is still tight, but at least we are moving in the right direction! 

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