Starter homes are getting harder to find. These 20 cities are bucking the trend.
Source: Business Insider ·
The share of starter homes has been falling in the US. But some cities are bucking that trend. Here are the best cities for starter homes.
From the source
Starter homes are becoming harder to come by in all but a few major metros.dpproductions/Getty ImagesThe market for starter homes is decreasing, but some cities still have plenty available.A report from Realtor.com shows that fewer than a quarter of large metro areas are starter-home-dominant.The number of starter homes is falling nationally, but it's increasing in some cities.As mortgage rates continue to reach new heights, options for first-time buyers are dwindling. Even starter homes — affordable properties that entice first-time homebuyers get their foot in the door — are jumping in price. The inventory of starter homes has recently decreased across the country. Data from Realtor.com shows that the national starter home share dropped from 38.1% to 36.2% from August 2019 to 2026, but the price during that timeframe increased 30.8%, from about $260,000 to $340,000.Realtor defines starter homes as homes listed at or below 80% of the median list price in that metro. A recent report…