Mortgage Requirements

More Competition, Higher Prices Mean Fewer First-Time Homebuyers Finding Way Into Dallas Market

By Joanna England / January 30, 2014 / 6 Comments

First-time homebuyers are finding it harder and harder to get into their dream home.

The National Association of Realtors said that first-time homebuyers make up only 28 percent of the national housing market in a Jan. 28 new story, the lowest number since the organization started measuring the demographic in 2008. According to the NAR, first-time homebuyers typically make up about 40 percent of the market, but several factors are keeping them from purchasing a home, including higher competition for lower priced properties, which are being swept up by investors at increasingly high rates.

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