Based on affordability, lending, and home price data, a new ranking offers the 10 best U.S. markets for first-time homebuyers. Texas came out on top with the three cities in the top 10, two in the top three, and has the best city overall, Fort Worth.
The coasts did not fare so well in SmartAsset's ranking; the highest-ranked city in the West Coast was Fresno, Calif., ranked 28th, and seven of the bottom 10 cities were in the Golden State. As well, the bottom-ranked cities had more volatile markets (based on home price index data) than did the top 10 cities.
Buying a home requires just as much care as any other significant investment. If being a first-time homebuyer is a part of your American dream, it’s important to choose a home that fits your budget based on your savings at the same time that it meets your other lifestyle needs. First-time homebuyers might find the home-buying process especially daunting, but there are many programs out there to help make it easier. And location, of course, is a crucial factor. Local market conditions, such as how stable the housing market is, can sometimes make all the difference.
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