Millennial homebuyers losing out on Hudson Valley real estate market

0
22

The process of buying a home is daunting enough when you are doing it for the first time, awkwardly navigating mortgage qualifications and showings while working to secure a down payment and the costs associated with closing. But for millennials especially, who are both the largest generation and the largest percentage of first-time homebuyers right now, the path to homeownership can feel maddeningly out of reach, particularly in the Hudson Valley.

Nationally and locally, the pandemic has only made an already-competitive housing market worse. Historically low mortgage rates dropped even lower after the arrival of the virus, and with remote work-from-home options becoming more common, homes in the Hudson Valley are more attractive than ever for New York City buyers. Last year, Hudson and Kingston emerged as the metro locations experiencing the biggest influx of relocations in the country.

According to the New York State Association of…

Read more…