First-time homebuyers pushed out – Lending standards are still tight, and investors are bringing cash to closing. That means first-time homebuyers are getting outmatched. Real estate experts say they're having trouble finding the home they want in their price range.
Prices still well below peak – Prices might be climbing, but we're still relatively near the bottom. According to S&P/Case-Shiller, they're still almost 30% of their peak.
Inventory is tight – With homebuyers and investors taking advantage of low but climbing mortgage rates, inventory is very low. Currently, there is about a five month supply on the market.