Looking to buy your first home? Good luck with that

Source:  CNN Money /   @KathrynVasel April 4, 2018: 1:00 PM ET


Home buyers are facing a tough shopping season this Spring, especially those doing it for the first time.

There’s just not enough housing available, and the shortage has caused home prices to rise. In the hottest markets, sellers are getting multiple offers well over asking prices.

“It will be tougher this year,” said David Berson, chief economist at Nationwide and a former chief economist for Fannie Mae. “There is going to be less choice and higher prices, and on top of that, mortgage rates have moved up.”

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