Housing stats and data, and how they affect first-time home buyers. #howtobuyahomepodcast

Everything you're hearing about first time home buyers being locked out changes because of these wild cards. There's lots of stats that work to your advantage and one killer technique not a lot of people are talking about. Right away we see the number of homes being purchased is down, which can lead to some interesting market conditions. This is partially due because the interest rates are high and a lot of people are freaked out and don't want to jump in with that high mortgage payment. But here's your secret trick. Check this out. 54 days is a lot longer than what we've usually had for homes to get sold on the market. This means the sellers are going to be willing to offer incentives. One of the big incentives, it's what we call a mortgage interest rate buy down. This means if interest rates are at 7%, you can tell the seller, hey, not a lot of people are putting offers on your home. How about you give me $10,000 credit and then you buy your interest rate down to the low sixes. Follow here to keep up what's going on for first time home buyers.