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The US real estate market may seem extremely competitive and saturated with unaffordable housing, especially for homebuyers who want to buy a home for the first time.
According to Zillow, first-time homebuyers account for 46% of all homebuyers and are more likely than seasoned homebuyers to exceed their budget.
But not all markets are filled with competitive prices and low inventories. Many markets – such as Tampa, Florida and Las Vegas, Nevada – offer first-time home buyers smaller installments in desirable locations. If homebuyers are able to identify and understand current market trends, it can be easy to navigate these markets.
Read more: The 25 US suburbs where home values are growing fastest, ranked
To establish its list of the best markets for first-time homebuyers, Zillow badessed metropolitan areas on four data points: the current median value of housing; the strength of predictions of appreciation of the value of the house; size of the current inventory; and current percentage of ads with a price reduction. The four data points received equal weighting. Listing and value data for the house represents each market as of May 2019.
Keep reading for a ranking of the top 10 subways for first time homebuyers.
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