First Time Home Buyers Face Low Starter Home Inventory
While the rate of home appreciation has slowed recently and home mortgage interest rates remain low, first time home buyers are still struggling in many housing markets across the US.
Despite low home mortgage rates, income growth in the US has not kept up with rising construction costs due to a shortage of construction workers and building lots, as well as new tariffs on building materials. As a result, inventory of starter homes remains low across the country, preventing many potential first time home buyers from buying new homes.
First time home buyer? Refinancing a home mortgage loan in the Atlanta area or anywhere else in Georgia? Contact Peachtree Mortgage Services, Inc. at 770.481.0052 or firstname.lastname@example.org.