First time buyers are back to a third of the market. Here is why now is different.
By Mina Mina · Real Broker, LLC
For a long time first time buyers were getting squeezed out. That has started to change. National figures this spring showed first timers climbing back toward a third of all purchases, the highest share in years. If you have been feeling like the deck was stacked against you, the deck is shifting.
Why the door is opening
Two things are helping. More homes are on the market, which means less bidding frenzy, and buyers are able to include inspections again instead of waiving everything to win. Those two changes matter enormously for someone buying their first home, because they lower both the risk and the stress.
How to use the moment
This is where preparation pays off. Get your preapproval so you know your real budget, learn about the down payment help available in Washington, and target the neighborhoods where your money goes furthest. The opportunity is real, but it still rewards the buyers who are ready.
If you want a clear plan for your first purchase in Snohomish or King County, that is exactly what I love helping people build.