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.
First-Time Homebuyers Mortgage Financing
We love helping first-time homebuyers at Marimark Mortgage.
It’s important to start your home search by working with a mortgage broker to pre-qualify for a home. When you’re ready, contact us for a mortgage pre-qualification.
The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
Real estate agents, and other professionals in the industry, will receive an ongoing wealth of information that will help them serve their clients.
