Houston Ranks Number Five for First-Time Home Buyers.
First-time home buyers have been making headlines over the past year. They’ve returned to the housing market after years of sitting on the sidelines, mostly due to more available jobs, affordable housing and changes to policies on government-backed loans. Now, it looks like the market for the first-time buyer is heating up even more.
SmartAsset recently released a report ranking the best cities for first-time home buyers based affordability, market stability, value, mortgage availability, volatility and two more metrics in U.S. cities with populations exceeding 300,000. Houston, Dallas and San Antonio ranked among the top 10 on the list, coming in at five, eight and 10, respectively. Though Houston’s volatility ranked higher than the median and average of other cities of the list, the large amount of HUD-approved lenders helped Houston secure the number five spot.
For more key findings, read the full report here.