Realty News: Falling Mortgage Rates May Spur First Time Homebuyers to Jump Back in the Market
In many areas of the country, the number of available first-time buyers is at an all-time low. Rural areas are feeling the strongest pinch, but urban and suburban locales are also lacking that layer of the market.
The efforts of real estate agents, sellers, and mortgage pros seem fruitless these days. Real estate professionals have shifted their focus to the aging Baby Boomer population downsizing to smaller homes and condos, or opting for active adult living communities.
The recent decrease in mortgage rates might do the trick, or so the real estate professionals hope. Where have all the buyers gone?
