More entry-level homes—known as starter homes—are popping up on the market. After several years of very few homes available to buy and rising prices, there are finally some more options for first-time buyers.
Inventory Is Increasing – Especially at Lower Price Points
The total supply of homes for sale has improved over the past year. According to Realtor.com, in November, there were 26.2% more homes for sale than at this time last year, marking 13 months of inventory growth and the most available homes since December 2019.
Interestingly, the growth isn’t spread evenly among all types of homes, though. According to Redfin, starter homes have seen the most significant increase (see graph below):
So, if you’re a first-time buyer sitting on the sidelines waiting because you thought you might never find a starter home in your market, this could be a game-changer. You finally have more options, and you just might be able to find one in your price range.
How an Experienced Agent Helps You Find a Starter Homes
Finding the right starter home in your local market at the right price point might feel like an unthinkable challenge, but a local real estate agent makes it easier. They stay current on your area's latest starter home listings so you don’t miss any opportunities.
Your agent will help you focus on homes matching your budget and needs, making the search less stressful. They’ll also guide you through making the right offer and negotiating to get the best outcome possible.
On top of that, they handle the essential details, like documentation and deadlines, so that you can stay 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 returning, which could be your chance to find one. Whether you’re ready to visit listings, need advice, or want to see what’s out there, let’s connect.
