Market Favorable for First-Time Home Buyers

Written by Family Fun. Posted in Home buying tips, Home inspection checklist, Real estate agents

Boca raton homes for sale
In 2014, only 33% of United States home buyers were first-time homeowners, the lowest percentage since 1987. That number is expected to change in 2015, as real estate market conditions shift to be more favorable to first-time buyers. The home buying process is becoming easier for more house hunters, and with several economic factors changing, first-time buyers may be at an advantage.
One of the biggest factors allowing first-time buyers back into the market are new lending standards. Lenders Fannie Mae and Freddie Mac have put new guidelines in place to make it easier to obtain a mortgage, including offering mortgages with 3% down payments. Several cities also have incentives in pl