High home prices and interest rates contribute to tough market for first-time homebuyers
A home for sale in the Ashby Acres community in Phoenix on Sept. 6, 2023. (Photo by Kevinjonah Paguio/Cronkite News) PHOENIX – High home sales prices and mortgage interest rates are squeezing out first-time home buyers from entering the market, especially as incomes have not kept up, housing experts say. In 2020, the housing market…