First-time home buyers are an important component of the market who face a variety of obstacles, often setting off a chain reaction of sales and purchases.
A new report notes that buyers have some advantages but are facing a shortage of available inventory. The median price for a starter home in the metro area is just under $100,000, lower than many other major metro areas.
Inventory of those homes has declined by nearly 50 percent in the past four years though, while that median price has risen just over 10 percent.
Read more at Chicago Agent Magazine here.