Best Real Estate Markets for First-Time Homebuyers in 2023. The housing market has been brutal for first-time homebuyers. And now, just as prices are finally beginning to slacken and the bidding wars are dying down, higher mortgage interest rates have turned the prospect of homeownership into a financial impossibility for many.
However, there are still places where here first-time buyers might have an easier time becoming homeowners. These are the towns and cities where prices are reasonable, there are more homes to go around, and newbies won’t have to sacrifice their social lives or suffer long commutes.
The economics team identified these top real estate markets for first-time homebuyers in 2023. More than half are located in the Northeast, mostly in smaller cities that aren’t far from larger urban areas where there are plenty of jobs, things to do on a Saturday night, and lots of nearby outdoor amenities. Some of the top picks are more rural areas that are being built up, while others have struggled in recent years and are coming back up.
Their biggest draw is that all of these places offer more affordable homes for sale, compared with their regions of the country.
Here are the best real estate markets for first-time buyers this year
2. DeForest, WI
5. Moore, OK
6. Magna, UT
10. Somersworth, NH
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