Did you know that 1st time homebuyers have been left behind? Only 33% of homebuyers this year were 1st timers. Down 5% from last year.
With raising rents and student loan debts, it’s simply too difficult to save up for down payments. But lately the news is better regarding the job market. It won’t be long before these 1st timers are back in the game.
I’m focusing some of my real estate attention toward the condo market. Condos will be the affordable option to these buyers, so I expect this market to grow over the next few years.
Something to consider this year end.