Charleston makes ‘Top 20 Cities for First-Time Homebuyers’ list
CHARLESTON, S.C. (WCSC) - Given the increasing number of obstacles first-time homebuyers face analysts say they have taken a closer look at the best cities for purchasing a first home.
SmartAsset analysts say they have judged 163 of the largest U.S. cities using 12 different metrics and found Charleston to be the 20th most desirable city for first-time home buyers.
Those 12 metrics were across four major categories including: home market favorability, affordability, livability and employment.
While first-time homebuyers have historically made up about 40% of all homebuyers nationwide, SmartAsset says that figure has dropped throughout the past decade.
Most recently, analysts say the share of first-time homebuyers fell two percentage points from 33% in 2019 to 31% in 2020. They say many researchers attributed the drop to tightening inventory and rising prices.
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