As with many things in 2016, the housing market has been plagued with various issues: plummeting inventory, skyrocketing home prices and affordability problems that are keeping some buyers still. However, the National Association of Realtors' September existing-home sales report revealed a promising silver lining -- first-time homebuyers. First-timers accounted for 34 percent of all buyers and helped drive one of the best months NAR has seen yet. But as our latest poll showed, it takes a lot of coaching and patience to reap the rewards of this plucky bunch. Money is the root of all...buying problems? The biggest mistakes first-time homebuyers are related to a lack of financial wherewithal -- not talking to a lender first took the top spot, with 61.1 percent of Inman readers saying this was a problem they'd encountered and 18.04 percent of respondents saying it was the biggest problem they encounter. Waiting too long to make an offer and offering too little for properties...
- We asked Inman readers about the biggest mistakes they've seen first-time homebuyers make.
- These were the top three: not talking to a lender first, waiting too long to make an offer and offering too little for properties.
- The resounding piece of advice readers offered was: "Listen to your agent!"
The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017