14 Feb D-FW is a tough sell for first time homebuyers
Dallas-Fort Worth has wound up in the top quarter of U.S. cities that are toughest for first-time homebuyers to crack.
D-FW ranked 77th on mortgage firm LendingTree’s comparison of conditions for first-time homebuyers.
Denver, in 100th place, and New York in the 99th spot, were the two most challenging markets for first-time buyers, according to Lending Tree.
Little Rock and Birmingham got top marks for metro areas where first timers had the best chance of buying.
The rankings were based on factors including average down payments, home prices, income levels and the number of Federal Housing Administration-backed loans, which are often used by first-time buyers.
Markets like D-FW that have experienced huge increases in home prices in recent years have seen a decline in home sales to first-time buyers because of affordability issues.
Rising mortgage costs could further squeeze entry-level buyers, analysts say.
Read More Via DallasNews.com