For years, first-time buyers have faced a tough housing market with limited options and rising prices. But there’s good news: starter homes are making a comeback. If you’ve been waiting for the right time to buy your first home, now may be your chance. With inventory improving, especially at lower price points, first-time buyers finally have more opportunities to step into homeownership.
Inventory Is On the Rise
Over the past year, the total supply of homes for sale has increased significantly. According to data from Realtor.com, there were 26.2% more homes for sale in November compared to the same time last year. That marks over a year of steady inventory growth—the most we’ve seen since December 2019.
While this growth is great for buyers overall, the best news lies in the details: starter homes, or entry-level homes, are leading the way. Redfin’s data shows that this category has experienced the biggest inventory increase. For buyers who’ve struggled to find affordable homes in recent years, this shift is a game-changer.
If you’re a first-time buyer who thought homeownership was out of reach, this trend could open the door for you. With more entry-level homes coming on the market, you now have better odds of finding a home that fits both your needs and your budget.
Why Now Is the Time to Act
The current growth in starter home inventory is a unique opportunity. For first-time buyers, these homes are often the most affordable entry point into the real estate market. However, competition for these homes can still be fierce. Acting quickly and working with the right professional can make all the difference.
How a Real Estate Agent Simplifies the Process
Finding the perfect starter home at the right price point isn’t always easy. That’s why partnering with an experienced local real estate agent is essential. Here’s how they can help:
Access to Listings: Agents stay updated on new starter home listings in your area, ensuring you don’t miss out on any opportunities.
Focused Search: Your agent will help you narrow down homes that match your budget, location preferences, and must-have features, making the search less overwhelming.
Expert Negotiation: When you find the right home, your agent will guide you through making a competitive offer and negotiating the best possible terms.
Streamlined Process: From handling paperwork to managing deadlines, an agent takes care of the details so you can focus on finding your dream home.
Advice and Support: Whether you have questions about financing, inspections, or the home-buying process itself, your agent is there to provide answers and expert advice every step of the way.
Bottom Line
Starter homes are back, and this could be the opportunity you’ve been waiting for. With inventory on the rise and more affordable options hitting the market, now is the time for first-time buyers to act. Don’t navigate this exciting journey alone—reach out to a local real estate expert who can help you find the perfect starter home and guide you every step of the way.