Almost 80 percent of first-time homebuyers missed out on two days of work during their search for a home, while 39 percent had trouble coming up with enough money for a down payment for a house.
Bidding wars, cash offers and low inventory have all led to a market that makes it increasingly difficult for first-time buyers to land a home, experts explained.
A big issue for first-time buyers is that they aren’t experienced with what they need to look for in a home and how the process works, especially in this real estate market.
Stephanie Barner, 33, said she looked at seven homes and lost out on one offer before she landed her two-bedroom, one-bathroom home in Tamarac, Florida.