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J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

First-Time Buyers Facing Higher-Priced Housing Market


People trying to buy their first home are facing an increasingly expensive housing market, with home values on entry-level homes rising the fastest in more than half of the major metro areas.

According to new data from Zillow, more than one-third of the homes up for sale are in the most expensive segment. Overall, there are 5.9 percent fewer homes for sale than a year ago, and the inventory for entry-level homes is 10.4 percent below last year’s level.

Increasingly, entry-level homes are becoming more expensive in the hotter housing markets. Zillow noted that the median value of entry-level homes in Denver rose 20 percent year-over-year—in comparison, the pricey San Francisco market saw an 11 percent year-over-year increase in median values on this housing type, while the tumult-driven Detroit market experienced a 3.2 percent decrease in entry-level home values.

“It’s going to be a tough home-buying market this spring, especially for first-time buyers or even people looking to move up into a slightly more expensive home,” said Zillow Chief Economist Svenja Gudell. “In order to stand out in a competitive market, buyers should get pre-approved for a loan, find an agent who has experience with bidding wars, and consider coming in at the asking price, so the seller knows they’re serious.”


Buying a home is now easier than it has been in years.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”

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Call us 2nd to SOLVE them!

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Category: Mortgage News