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Challenge Lies Ahead for First-Time Buyers

Thu November 17, 2016

An already-low nationwide single-family housing inventory dropped even further in October, which is expected to create problems for first-time buyers in the coming year, according to Redfin’s October housing market report.

Inventory declined by 8.6 percent in October compared to 2015, making 13 consecutive months of annual declines, according to Redfin. The decrease in homes for sale marks the largest year-over-year decline since May 2013. Finalized sales are also down by 3.2 percent.

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