Despite the highest home prices ever, fierce competition, and a nationwide housing shortage, more first-time buyers become homeowners during the COVID-19 pandemic. The percentage of first-time buyers who successfully purchased properties rose to 34% of all buyers over the past year. That’s up from 31% last year, according to the National Association of Realtors® 2021. This is the 40th year the report...

Could relief be on the horizon for would-be buyers frustrated by the shortage of available homes? Well, maybe. More sellers appear poised to list their homes this winter—a big win for the inventory-starved housing market. But many of these homeowners aren’t going to part with their properties unless they’re receiving top dollar. “Buyers should be ready for high asking prices,” says George...