By Steve Brown | The Dallas Morning News
Young buyers hunting a house are finding lots of competition — and much of it isn’t from other first-timers.
Investors are hogging the market for low-price homes in some cities, muscling aside entry-level buyers looking for affordable houses.
“The investor is starting to gobble up pretty much anything under $200,000,” said Dennis Cisterna, chief revenue officer for Investability Real Estate, a company that markets rental homes and services. “We are not adding any new supply to the market to serve that first-time homebuyer.”
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The supply of homes for sale across the U.S. is at its lowest level in 30 years. And the shortage of housing is even more acute at the low and middle price ranges.
