Best and Worst Conditions for First Time Buyers
Buying is not necessarily better than renting , and this is especially true in some states. Bankrate has compiled a list of the best and worst states for first-time shoppers.
To measure their rankings, they focused on five factors: housing affordability, labor market for young people, housing market constraints, credit availability, and home ownership. Unsurprisingly, some of the worst states to buy your first home are the states with the highest home prices, dot: California, Hawaii, and New York. However, Louisiana and Mississippi were on the “worst” list. While housing may be affordable in these states, credit availability and the labor market scored low.
First-time home buyers included Iowa, Utah, Minnesota, and Kansas. You can see the top ten in the graph above, then follow the link below for the full methodology and more details by state.
We select the most difficult and easiest conditions for those who buy a home for the first time | Bank rate