ESB Professional/Shutterstock Understanding market trends will help you navigate heated housing markets.
- First-time homebuyers are more likely than veteran homebuyers to go over their budgets, according to Zillow.
- A spring 2019 study by Zillow revealed the 10 best metros for first-time homebuyers.
- Turns out, four of the best places to invest in real estate in the US right now are in Florida.
- Reports indicate that major markets in the southern and western regions of the country have been growing in popularity since 2017.
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The US housing market can seem highly competitive and saturated with unaffordable homes - especially for homebuyers looking to close on a house for the first time.
According to Zillow, first-time homebuyers account for 46% of all homebuyers and are more likely than veteran homebuyers to go over their budgets.
But not every market is filled with competitive prices and low inventory. There are many markets - such as Tampa, Florida and Las Vegas, Nevada - that offer first-time homebuyers low down payments in desirable locations. If homebuyers are able to pinpoint and understand current market trends, these markets can be easy to navigate through.
Read more: The 25 US suburbs where home values are growing the fastest, ranked
To establish its list of best markets for first-time homebuyers, Zillow evaluated metropolitan areas on four data points: current median home value; strength of home value appreciation forecast; size of current inventory; and current percentage of listings with a price cut. All four data points were given equal weighting. Listing and home-value data represent each market as of May 2019.
Keep reading for a ranking of the top 10 best metros for first-time homebuyers.