b'I nJune,thenumberoffirst-timehomelower monthly cost than renting, its a greatowners are aware of such services.buyersaccountedfor35%oftheexistingtime for first-time home buyers to enter the homessold,atrendthatsbeenbuildingmarket. According to the Q2 2020 Housing steadilythroughouttheyear.AccordingtoTrends Report from the National Association the National Association of Realtors (NAR): of Home Builders (NAHB):Theshareoffirst-timebuyersincreasedinEighty-fourpercentofGenZsplanningto MarchthroughJunerightintotheheartofbuy a home are first timers, compared to 68% thepandemicperiodandthesurgeinunem- ofMillennials,52%ofGenXs,and21%of ploymentandisnowtrendinghigherthanBoomers.Lookingatresultsbyregionshows the29%to32%averageinpastyearssincethatover60%ofprospectivebuyersinthe 2012.NortheastandSoutharebuyingahomefor Why the rise in first-time home buying? thefirsttime.Theshareisabove55%intheIf youre among the first-time home buyers Midwest and West. who feel the process is complicated, youre NAR continues to say: not alone. If youre not sure where to begin Thereare,however,challengesforfirst-T he major factor is, arguably, low mort- time buyers. A recent survey conducted byor you simply want help in figuring out how gage rates. As of the week ended JulyNeighborWorksAmericaalsonotesthattosaveforahome,findingatrustedreal 16, the 30-year fixed mortgage rate droppedunderstandingthehomebuyingprocessestate advisor to work with is a critical step to 2.98%. With rates so low that are lockedmay be the most significant barrier for manytowardyoursuccess.Arealestateprofes-inundera30-yearmortgage,thetypicalhopeful homeowners: sional can help you understand the process, mortgage payment, estimated at $1,036, hasHomeownership is a particular challenge forreviewyourcurrentsituation,andguide fallen below the median rent, at $1,045. Formany, despite high levels of interest. Americansyou with a plan to help you to feel confident potential home buyers who were thinking ofbelieve there are many benefits to homeowner- when buying a home.purchasing a home anyway before the pan- ship and half of non-owners will seek informa-demic outbreak and who are likely to remaintion about the process in the next few yearsaBottom Lineemployed, the low mortgage rate may be thelarge share of non-owners say the process is tooI fyoureinterestedinpurchasingahome clincher. challengingandonlyaminorityknowwhereand need help getting started, lets connect Historicallylowmortgageratesareto find advice if they wanted it. And althoughtoday so you can take advantage of the sup-encouragingmanytobuy.Withtheaver- many would seek the guidance of communityport available to guide you through each step agemortgagepaymentnowestimatedataand non-profit programs, only one in three non- of the way.'