This Connecticut housing market could be a first-time buyer's best bet in 2023
“A lot of first-time homebuyers who would have had an FHA loan or a VA loan were really left out of the housing market last year because there were so many multiple bids for properties that all cash buyers would essentially just win out on that property, and that was about a quarter of the market,” Jessica Lautz, National Association of Realtors deputy chief economist and vice president of research, told Nexstar. The markets targeted on the list “have local employment markets which are strong enough to support young professionals getting a start in their careers,” Realtor.com Senior Economist George Ratiu said in the report.” More than half of the cities or towns on the list are located in the Northeast. “For a lot of first-time homebuyers, they may have to make a compromise, and whether that’s location of the home or condition of the home, and, you know, they’re buying a fixer-upper or whatever that means, that they may have to look farther out from where they had been looking,” Lautz said.
