Subscribe and receive email notifications of new blog posts.
RSS Feed
Seventy of the top 100 largest metropolitan areas see more starter homes on-market in October, November and December, relieving prices 4.8 percent over spring, according to the recently released Trulia Inventory and Price Watch. The most dramatic shifts—in favor of first-time homebuyers.
"Housing markets have long been plagued by tight inventory and worsening affordability, but it's not completely hopeless for would-be homeowners," says Cheryl Young, senior economist at Trulia. "The seasonal swings in listings and prices means buyers will likely find more homes for sale at a lower price in the fall and winter months."
Make no mistake: The housing market is still in a squeeze. Entry-level home inventory sank 20.4 percent year-over-year over the summer, while move-up home inventory shrunk 12.5 percent. Even luxury homes were at a shortage, down 2.3 percent. First-time homebuyers were forced to shell out 39.7 percent of their monthly earnings for a starter home.
The change of season, still, could usher in more opportunities.
"Starter homebuyers should begin looking now," Young says. "The fall season provides a great opportunity for finding the right home and neighborhood, thanks to a bump in homes for sale on the market, followed by lower winter prices."
For more information, please visit www.trulia.com.
Suzanne De Vita is RISMedia's online news editor. Email her your real estate news ideas at sdevita@rismedia.com.
Reprinted with permission from RISMedia. ©2017. All rights reserved.
If the email address was found in our system, your password has been sent. Please check your inbox.
Back to Login
We respect your concerns about privacy and value the relationship that we have with you.
Like many sites, we use cookies on our website to collect information to help improve your browsing experience. The cookies that we use allow our website to work and help us to understand what information is most useful to visitors.
For the best website browsing experience, please enable cookies. Go here for instructions on how to enable cookies on your browser.
