www.independent.co.uk
For first-time homebuyers, there are more properties to choose from than ever before. According to Redfin, the number of homes for sale has reached a record high, boosting buyer choice. However, affordability remains a significant challenge. Buyers are facing high mortgage rates and rising home prices, creating difficult market conditions despite increased inventory. While the current inventory of 1.5 million homes offers more options, many renters are still unable to qualify for a mortgage or afford a down payment. This means even though first-time buyers have more choice, they still face a frustrating search. The market presents a paradox: record inventory doesn’t automatically mean record sales or an easier path to homeownership.
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