More entry-level homes – also known as starter homes – are popping up on the market. And after several years with very few homes available to buy and prices rising, there are finally some more options for first-time buyers.
Inventory Is Increasing – Especially at Lower Price Points
Over the past year, the total supply of homes for sale has improved. According to Realtor.com, the inventory of homes for sale grew by 26.2% in November compared to the previous year. This marks 13 months of consistent growth, with the highest number of homes available since December 2019.
The growth isn’t spread evenly across all types of homes. Some segments experience more growth than others. According to Redfin, starter homes have seen the biggest increase (see graph below):
If you’re a first-time buyer waiting for the right home, more options are now available in your price range.
How an Experienced Agent Helps You Find a Starter Homes
Finding the right starter home at the right price can be challenging, but a local real estate agent simplifies the process. They stay up to date on the latest starter home listings in your area, so you don’t miss any opportunities.
Your agent will help you focus on homes that match your budget and your needs, making the search less stressful. They’ll also guide you through how to make the right offer and negotiate to get the best outcome possible.
On top of that, they handle the important details, like documentation and deadlines, so you can stay right on track. And if you have questions, your agent is there with answers and expert advice every step of the way.
Bottom Line
Starter homes are making a bit of a comeback, and this could be your chance to find one. Whether you’re ready to visit listings, need advice, or just want to see what’s out there, let’s connect.
