Skip to main content

The Best Market for First-Time Homebuyers Is …

Phil Hall
Jul 16, 2018
For the sixth consecutive year, Millennials are the dominant force in the homebuyer market, according to new data from the National Association of Realtors (NAR)

The pursuit of the American Dream would be best served if first-time homebuyers aimed their sights at Broken Arrow, Okla. According to a new study released by WalletHub, this suburb of Tulsa ranked highest as the best housing market for those making their first foray into homeownership.
WalletHub analyzed 300 cities of varying sizes, using 27 judging categories covering market attractiveness, affordability and quality of life. Broken Arrow, Oklahoma’s fourth-largest city with a population of 107,000, topped the list, followed by Tampa, Fla.; Centennial, Colo., Boise, Idaho; and Grand Rapids, Mich. Ranking at the bottom of the list was Berkeley, Calif., edging out the Michigan markets of Detroit and Flint and being the worst markets for first-time homebuyers.
Among the specific categories, Akron, Ohio, boasted the most affordable housing while five California metros—Los Angeles, San Francisco, Sunnyvale, San Mateo and Berkeley—tied for the least affordable housing. Laredo, Texas, had the lowest cost of living while Honolulu tied with New York; San Francisco; Washington, D.C.; and California’s Fremont and Sunnyvale markets for the highest cost of living. But Honolulu also had the lowest real-estate tax rate, while Waterbury, Conn., had the highest. Waterbury also boasted lowest home-price appreciation rate and ranked fifth for the highest rent-to-price ratio.

Jul 16, 2018
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021