US Edition
A New Normal Is Taking Hold in Homebuying. One Generation Is Bucking the Trend.
- In the first quarter of 2025, inflation-adjusted list prices fell 2% nationwide amid rising interest rates and historically low home sales.
- This decline followed trends in major cities like Detroit and San Francisco where price drops were largest, while tariffs made 13% of Americans delay home purchases.
- Typical first-quarter list prices averaged $413,700 requiring a $3,240 monthly mortgage and an annual income of $138,700, which is about 42% of typical before-tax income for first-time buyers.
- Although listings fell 7% quarter over quarter with 30% drops in Buffalo and Grand Rapids, national inventory rose 27% year over year, notably in Denver, Las Vegas, and San Diego with increases around 60%.
- These shifts suggest buyers may gain negotiating power amid low demand, but a local agent can best clarify market conditions in specific areas.
43 Articles
43 Articles
Daily Local News
Data: First-time home buyers faced greater headwinds in Q1
By Elizabeth Renter, NerdWallet Buying a home is no walk in the park— and in today’s market, it’s especially challenging for first-time buyers. Although inflation-adjusted list prices decreased slightly in the first quarter of 2025, interest rates rose. For the vast majority of first-time home buyers who depend on a loan for their home purchase, this meant little relief in the way of affordability in the first months of the year. List prices dip…
Thrive West Central now offering assistance to new home buyers
TERRE HAUTE, Ind. (WTWO/WAWV) — Thrive West Central will now be supplying new home buyers with down payment assistance and affordable mortgage options through its Hoosier Homes program. The announcement was made Thursday during a press conference featuring Terre Haute City and Vigo County officials. Thrive West Central said this is all made possible by a partnership with Club 720, a digital platform that helps assist you during the home buying p…
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