Price Increases Since COVID

It is amazing the price increase since COVID vs. a more normal price increase in the period before COVID. Even if prices drop 20%, the price appreciation is still way over normal.

First-Time Buyers At All-Time Low

The percentage of sales for first-time buyers is at the lowest level they have ever seen, according to the National Association of Realtors. High home prices combined with high mortgage rates are making it very difficult for first-time buyers, so it is not surprising they are being held back from making a purchase.