The average first-time homebuyer spends 40% of their income on housing.
Reuters/Lucy Nicholson
It's house-hunting season.
Between October and December each year, starter home inventory in the US gets a 7% boost, according to new data from Trulia
.
In 70 of the 100 largest US metros, the number of starter homes on the market reaches its annual peak during this time, meaning those looking to buy their first home will have more to choose from this time of year.
If you beloved this article and also you would like to be given more info with regards to visit the following page [1] i implore you to visit our web-page. Trulia defines a starter home as any listing priced below $232,751, based on weighted averages from the 100 largest metro areas in the US. In the third quarter of 2017, the median listing price of a starter home was $171,624.
The next tier, trade-up homes, are categorized as any listing priced between $232,752 and $360,469. A listing above that threshold is considered a premium home.