Housing Market Sees Fewer First-Time Homebuyers

The video discusses the housing market trends from 2020 to 2021, highlighting record low mortgage rates due to the pandemic, which led to increased home prices and equity. It then covers the rise in interest rates over the past year, driven by the Federal Reserve's efforts to control inflation, impacting potential home buyers. The challenges faced by first-time home buyers, including increased age and longer selling times, are also addressed. Despite these challenges, the video suggests there are opportunities in the market due to reduced competition and price drops.

What was the record low monthly average mortgage rate in December 2020?

How much did the average price of a new home increase to in 2021?

What impact did the increase in interest rates have on potential first-time home buyers?

What was the average age of first-time home buyers according to the text?

What factors contributed to the increase in median home prices through October?