In Houston, Texas (KTRK), the real estate market remains challenging for first-time home buyers, marked by the highest mortgage rates and home prices in a generation. Many individuals struggle to accumulate funds for a down payment amidst these circumstances.
According to local real estate expert Tricia Turner, while the pandemic may be in the past, lingering effects from lockdowns continue to impact the market. A significant number of young people moved in with their parents during the pandemic, and now, these families are eager to see their children establish independent households.
Turner further highlighted that despite financial constraints, there are options available to assist first-time home buyers, even if they lack familial support for down payments.
