"When we think about first-time homebuyers, a lot of times we think young families and young professionals looking to get into the housing market for the first time," Realtor.com senior economist Joel Berner told Business Insider. "And that's still true. But the other thing that is true - and becoming more true - is it's folks who have been in that position for several years now are just finally able to get into it."
"Affordability is the main story we talk about, and it's a big struggle with mortgage rates just hovering right under 7% right now - not really going to get a lot of relief on that front," Berner told Business Insider.
A newly released report from Realtor.com ranked the best markets for first-time homebuyers in 2025. Three Florida cities made the list and two cities in New York did as well, but no cities on the west coast made the list.
Small towns and suburban cities dominated the list, offering a good mix of relief in listing prices as well as high location scores - a metric used by Realtor.com that factors in nearby amenities like daycares, nightlife, and restaurants.
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