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But not allhousing marketsare created equal.
Entering 2025, aspiring homeowners should especially watch out for these cities that arepricing out first-time homebuyers.
Los Angeles
Its no picnic buying a home in the City of Angels, either.
Like most major California cities, Los Angeles doesnt make it easy to build new housing supply.
That leaves demand perpetually outpacing supply in Americas second-largest city.
The demand for housing is very high there.
There are tons of job opportunities, and its also just a super popular location in general.
Year-round warm, sunny weather certainly doesnt dampen demand, either.
Seattle
Seattle also has a history of terrible housing affordability.
And its not going to get much better, according to McCoy.
In 2025, things are only expected to get worse.
Earlier this year, Amazon announced their strict return-to-office policy, which officially goes into effect in January 2025.
Some other employers in the Seattle area have followed suit as well.
During the pandemic, many wealthy urbanites famously decamped formore spacious living.
Dont expect the Big Apple to become more affordable for first-time homebuyers anytime soon.
It still takes a significant income to buy a median house in Beantown.
Middle-class earners hoping to buy their first home might consider looking elsewhere.
Miami
Morgado pointed to the tropical mecca of Miami as another not-so-affordable East Coast metropolis.
In Miami, both domestic and international buyers fight over its scarce inventory.
Demand for rentals is also competitive, boosting prices even higher, he said.
Warm weather and no income taxes have also attracted more mobile remote workers in recent years.
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