Denver ranks as a more challenging housing market than New York City and San Francisco in LendingTree's new list of the best and worst cities for first-time homebuyers in 2018.
While Denver's tight inventory and resulting high home prices make it one of the worst metros on the site's list, Little Rock, Arkansas ranked as the best city for first-time homebuyers this year. Little Rock homes have an average down payment of $24,896, 12 percent of a home's price, while in Denver, the average down payment would be 18 percent of the home's price, $66,806, per Realtor.com.
LendingTree researchers ranked the 100 largest U.S. cities not only by the price of homes, but also by other criteria such as the average down payment, the percentage of buyers who have a credit score below 680, and the number of homes sold that the median-income family can afford.
Advertisement
Related Stories
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Building Materials
Lumber Leads Building Materials Prices Higher in March
Overall, the cost of building materials rose during March, with softwood lumber, gypsum products, and concrete all seeing price increases. Only steel mill materials saw price drops
