High home prices, rising mortgage rates make it tough to be a first-time homebuyer now. Here’s why location matters
A new Bankrate ranking found the Austin, Texas, metro area is the best for first-time home purchasers.Roschetzkyistockphoto | Istock | Getty Images
Prospective buyers looking to secure the purchase of their first home this spring will still face a difficult market.
Yet there are signs some areas of the country may provide more opportunity for prospective owners shopping for their first piece of real estate. A new Bankrate ranking found the Austin, Texas, metro area is the best for first-time purchasers, while the worst is Washington, D.C.
The ranking of 50 metropolitan areas was based on affordability, which was given a 40% weight; job market, 30%; market tightness, 15%; and wellness and culture, 15%…. READ MORE>>>https://www.cnbc.com/2023/02/28/home-prices-mortgage-rates-its-tough-being-a-first-time-homebuyer.html
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