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Published: Apr 05, 2024 3 min read
Family buying a house
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First-time homebuyers are becoming one of the largest segments of the real estate market, making up half of all buyers in 2023. While this demographic continues to grow, though, it is forced to reckon with an expensive housing market that does not necessarily favor them.

When interest rates do eventually come down from their recent record highs, it's likely to kickstart the long process of getting mortgage rates back to a place where sellers are incentivized to sell and buyers are able to afford homes. But that will all be the end result of a lengthy chain reaction that the Federal Reserve has not yet set into motion.

Fortunately for homebuyers, not all markets are equal. While first-time homebuyers anxiously wait for rates to drop, there are plenty of options for markets that offer a great bang for your buck.