Fewer first-time buyers making moves despite promising trends

Entry-level buyers based in Houston may be missing out if they put off making the transition to homeownership too much longer.Even though purchasing Houston real estate could be a great investment, statistics show very few entry-level buyers are taking advantage of favorable conditions.A report from the National Association of Realtors indicates that first-time buyers accounted for just 34 percent of all property transactions last month across the country. This was an improvement on both a monthly and annual basis, but was still well below the normal 40 percent share experienced at the housing market's peak.”The total supply of housing inventory appears to be balanced in historic terms, but there are notable shortages in the lower price ranges which are limiting opportunities for first-time buyers,” said NAR chief economist Lawrence Yun.Entry-level buyers based in Houston may be missing out if they put off making the transition to homeownership too much longer. A report from the Federal Housing Finance Agency found that the value of Houston homes was appreciating at the eighth-fastest rate in the country during the second quarter.Specifically, property values rose 6.75 percent from the same three-month period a year earlier, and 2.69 percent from the previous quarter.??? Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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