# First-time homebuyers' market guide

> First-time homebuyers face affordability challenges in today's market.
- Title: First-time homebuyers' market guide · Valleynewslive
- Summary: First-time homebuyers face affordability challenges in today's market. First-time homebuyers should prepare financially before house hunting to afford homes…
- Keywords: first-time homebuyer, affordability, wallethub, home buying, market conditions, down payment, news, local, First-time, homebuyers', market, guide
- Source: Valleynewslive — https://valleynewslive.com/2026/09/23/dos-donts-first-time-homebuyers-todays-market
- Published: 2026-09-23T18:06:02.13+00:00
- Read time: 1 min
- Topics: first-time homebuyer, affordability, wallethub, home buying, market conditions, down payment, news, local
## Affordability concerns
First-time homebuyers face higher prices and interest rates making home buying more challenging.
## WalletHub analysis
WalletHub compared 300 cities on 22 factors including affordability and market conditions.
## First-time buyer share
First-time buyers made up 21% of the market last year, below historical average of 40%.
## Financial preparation
Start bank relationships and pre-approval before house hunting to determine affordability.

> It can be extremely stressful. For most people, it’s the biggest purchase they’ve ever made, and they really don’t have a whole lot of knowledge about how to do it.
## Down payment options
First-time buyers may qualify for 0% or 3.5% down payment programs.

> A lot of times people assume you always hear that you need 20% for a down payment. That’s not necessarily the case for a first-time homebuyer.
## Home inspection advice
Do not waive home inspection before making an offer and budget for more than mortgage payments.
## Key takeaway

First-time homebuyers should prepare financially before house hunting to afford homes in today's market.