Housing recovery not so bright for entry-level buyers, says FNC

Foreclosure rates down, but bidding wars and low inventory are hurting first-time home buyers
  • San Francisco home prices were 73.3 percent higher in March this year compared to January 2012.
  • Miami home prices were 60.1 percent higher since 2012.
  • Chicago and New York City both lag behind the national home price recovery rate.
  • The increased home prices are raising the value of starter homes.

While homeowners across the country continue to increase their property values and build equity in the years following the housing market crash, lack of supply and subsequent bidding wars are both heavily impacting the entry-level market, according to FNC’s report on housing market trends.