Only 22% of homes for sale are classified as entry-level.
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There are almost 9% fewer homes on the market than a year ago, and the majority of those are unaffordable for most first-time home buyers since more than half of all homes for sale across the U.S. are at the high end of the market, according to the March Zillow® Real Estate Market Report.
More millennials are aging into their prime home buying years and looking to buy their first home, but there are very few homes on the market that are affordable for them. Among all homes on the market right now, just 22% are entry-level, among the least expensive on the market.
