First time homebuyers are or have disappeared! The smaller affordable properties are disappearing even during a time where interest rates are at record-low. The challenge is that there is not enough inventory for home priced for first time home buyers and the inventory will continue to shrink. What is considered to be a first time home? Generally it is a property between 1,500 to 2,000 sq ft and priced under $300,000.
So, what does this mean for first time home buyers? The new era of work from home provides buyers to move to are that offers affordable properties such as Ave Maria, Cape Coral, Ft Myers, etc.