Market Not Great For First Time Homebuyers

According to real estate search engine, first time homebuyers are being squeezed out of the buyers' market by the falling inventory of homes and investors who are looking to buy basic homes to rent out by people who were foreclosed on. The local San Antonio movers learned however that unlike some other markets, San Antonio's inventory is only down by 6.5% so this Texas real estate market can still offer first time buyers a house of their own at a great price. California residents aren't as lucky. Their bottom-tier homes' inventory (which represents the cheapest one third of homes) has dropped by 42.7% in the last year alone. In their middle tier, it has dropped 37.4% and upper tier represents 31.9%.

The All My Sons of San Antonio learned that nationally, the bottom tier inventory of homes has dropped 15.3%, the middle 18.6% and the upper 22%. The worst hit area in the bottom tier inventory is Phoenix, down 57.1%. Cincinnati residents are lucky because their inventory is down only by 5.6% and Philadelphia is at 7.1%. For years now, people have been told to take their time because the economy represents a buyers' market, however this drop in inventory is definitely a hint for people looking to buy. The local San Antonio moving specialists learned that real estate experts are pretty much agreeing that conditions are getting better. People don't foresee prices dropping drastically again, just slowly and steadily moving upwards. The economy is getting better, unemployment rates are getting smaller and mortgages are staying low. Investors are acting fast, paying all cash for the bargain-priced properties. They figure they'll rent them out to make profit because there's an over supply of renters thanks to all of the recent foreclosures and short sales nationwide.

Are you in the market to buy your first home? Are you looking to move in the near future? Don't forget to call the local San Antonio movers for professional moving services backed by four generations of reliable movers. The All My Sons of San Antonio will take care of your every residential move detail, helping you assemble your more cumbersome furniture. Plus, if you're looking to locate clean and professional moving boxes, the San Antonio moving specialists can help with that as well. Moving with All My Sons of San Antonio means you'll be moving with professional who have experience in commercial moves, auto moves as well as long distance moves, so you'll be in trusted hands.