CNN Money reports that the real estate market finally looks normal again.
“This rapid appreciation in prices has caused the inventory of homes on the market to shrink, as prospective sellers are wary of jumping into what looks like a buyers’ market. This dynamic can be especially frustrating for first-time homebuyers who face the double threat of banks wary of lending to anybody but the most creditworthy and homeowners wary of selling while prices look to be on their way up,” the report says.
Read the CNN Money article: After 8 years, the real estate market is finally looking normal again.
If indeed this rapid price appreciation in the low price tier homes is coming to an end, that could signal the retreat of the investor class from the single-family market and an opportunity for first-time homebuyers relying on mortgage financing to take a larger role in the real estate market going forward.
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