Heavy competitors in as we speak’s expensive housing market has sidelined some first-time patrons, particularly in main metropolitan areas.
These patrons often make up about 40% of the market, however now they’re lower than a 3rd, based on the Nationwide Affiliation of Realtors. The bulk are millennials ages 25-34.
There’s nonetheless hope for homeownership, nevertheless. Whereas the pandemic has spurred sturdy demand for housing, it has additionally allowed for extra flexibility in the place folks can dwell, which advantages those self same first-time patrons.
So the place are the most effective bets for them in 2021? Not surprisingly, the Midwest.
4 of the highest 10 greatest markets for first-time patrons, as decided by realtor.com, are within the Midwest. Bloomington, Illinois, leads the checklist. Iowa Metropolis, Iowa, ranked second, adopted by Kalamazoo, Michigan; Nice Falls, Montana; Eau Claire, Wisconsin; Savannah, Georgia; Schenectady, New York; Taylorville, Utah; Harrisonburg, Virginia; and Fast Metropolis, South Dakota. Some sources contemplate South…