Posts from May 2nd, 2023

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How to Become a Homeowner on a First-Time Buyer's Budget

May 2nd, 2023 by Rebecca Kimberlin

It's not easy being a first-time homebuyer right now. At the end of last year, housing affordability hit an all-time low.¹ Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.²

In fact, according to the National Association of Realtors, only 26% of last year's homebuyers were first-timers—the lowest share on record and down from 34% a year prior. This underscores just how steep a hill new buyers are facing.³ As a result, many first-time homebuyers are finding that they need to get creative or ris...

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Categories: Uncategorized

Rebecca Kimberlin Cell: (804) 938-5205 Fax: (804) 747-8193 Email Me

West End Office Main Phone: (804) 747-7653
10148 West Broad Street
Suite 200
Glen Allen, VA 23060

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/21/2026. The listing information on this page last changed on 04/21/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Tue 04/21/2026 12:02:10 AM EST) or CAAR MLS (last updated Mon 04/20/2026 11:10:20 PM EST) or CVRMLS (last updated Mon 04/20/2026 11:58:31 PM EST) or Williamsburg MLS (last updated Mon 04/20/2026 10:54:37 PM EST) or NNAR MLS (last updated Mon 04/20/2026 10:26:47 PM EST) or Chesapeake Bay & Rivers (last updated Mon 04/20/2026 8:50:30 PM EST). Real estate listings held by brokerage firms other than Napier Realtors ERA may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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Posts from May 2nd, 2023

How to Become a Homeowner on a First-Time Buyer's Budget

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