By Elizabeth Renter, NerdWallet

Buying a home is no walk in the park— and in today’s market, it’s especially challenging for first-time buyers.

Although inflation-adjusted list prices decreased slightly in the first quarter of 2025, interest rates rose. For the vast majority of first-time home buyers who depend on a loan for their home purchase, this meant little relief in the way of affordability in the first months of the year.

Across the nation, inflation-adjusted list prices in the first quarter fell slightly (-2%) compared with the last quarter of 2024. Looking at adjusted prices tells us that buyers’ money could go a bit further toward the sticker price on their home.

But the number of homes changing hands remains historically low, according to data from the National Association

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