For many first-time Home buyers, 2017 was tough. It was a year in which many baby boomers stayed put in their larger homes, investors sank money into rental properties, and new construction remained slow. Together, that meant fewer affordable single-family homes especially for those in the market for the very first time.
However, the rest of 2018 is predicted to bring good news. With an increase in building permits submitted at the end of 2017, new construction is expected to increase. The median estimate has single-family housing starts rising about 8 % in 2018, to roughly 912,500 new houses. This means more homes for first-time buyers will be on the market as the year progresses, according to Realtor.com
If you are looking for a single-family home, it's time to talk to your local real estate agent now. Start the conversation early in the year so you can be ready to buy when the time comes.
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