Why is that? While buying a home has long been part of the American Dream, it’s a daunting task – especially for first-time homebuyers. Many would-be buyers, overwhelmed by the process and the current state of the market, give up and decide to rent.
It doesn’t have to be that way. The fact is, today’s housing market is a once-in-a-lifetime opportunity for first-time buyers. Interest rates are at near-record lows, homes are more affordable than they have been in years and there are plenty of homes for sale (with more on the way, thanks to the foreclosure crisis). Buyers are more likely to truly find the home of their dreams than they were in years past.
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