“These markets have more favorable conditions for first-time buyers to become homeowners. More challenging metros aren’t out of reach for new buyers, but they should be prepared to face a more competitive buying environment,” said Zillow Chief Economist Dr. Svenja Gudell.
The rankings are based on Zillow Real Estate Research’s housing data and research covering more than 450 markets.
Here’s the list of first-time homebuyers’ best housing markets:
SEE ALSO: Here’s how big a home you can buy for $400,000 in the 25 biggest cities in America
17. Riverside, CA
Breakeven Horizon 1Q 2017: 2 years, 5 months
Inventory: 14,462
Households: 1,343,526
Annual Forecasted Home Value Appreciation: 3.8%
Share of Listings with a Price Cut: 13.4%
Source: Zillow
16. Philadelphia, PA
Breakeven Horizon 1Q 2017: 2 years, 7 months
Inventory: 26,597
Households: 2,233,752
Annual Forecasted Home Value Appreciation: 2.3%
Share of Listings with a Price Cut: 17.3%
Source: Zillow
15. Houston, TX
Breakeven Horizon 1Q 2017: 2 years, 4 months
Inventory: 24,960
Households: 2,292,992
Annual Forecasted Home Value Appreciation: 1.5%
Share of Listings with a Price Cut: 17.9%
Source: Zillow
See the rest of the story at Business Insider
May 12, 2017 at 09:30PM
from Raul Hernandez
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