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First time homebuyer s biggest foe? Few homes to buy CNN 2/22/2021 Anna Bahney, CNN Business © Saul Loeb/AFP/Getty Images A house s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. - The US real estate market is booming even as the coronavirus crisis intensifies, and the seemingly insatiable appetite for new and older homes has sent prices soaring meaning more and more families with modest incomes are seeing their dreams of owning property shattered. (Photo by Saul Loeb/AFP/Getty Images) It s a tough time to be a first-time home buyer. Sure, mortgage rates are at record lows, allowing buyers to stretch their budgets. But the number of entry level homes that are available to buy are also at record lows, causing home prices to rise across the country. And competition is steep, with homes garnering multiple offers and selling in a matter of days.

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