Heavy competition in today’s pricey housing market has sidelined some first-time buyers, especially in major metropolitan areas. These buyers usually make up about 40% of the market, but now it’s less than a third, according to the National Association of Realtors. The majority are millennials, aged 25-34.
There is still hope for homeownership, however. While the pandemic has spurred strong demand for housing, it has also allowed for more flexibility in where people can live, which benefits those same first-time buyers.
So where are the best bets for them in 2021? Not surprisingly, the Midwest.
Read more at CNBC.