Pursuits
First-Time House Hunters Lose in Busy U.S. Homebuying Season
- Job growth and rising rents bring out buyers for spring market
- Tight supply to keep lid on sales as demand pushes up prices
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Before beginning the hunt for their first house, Tennessee residents Brittany and Craig Murphy pared their student debt, saved for a down payment and got an income boost from her new job. The major hurdle was what came next.
In the last month, the couple lost two bidding wars on Nashville homes to competitors willing to pay more than 10 percent above the asking price.