First-time homebuyers face hurdles despite gradual improvement

First-time homebuyers are navigating high home prices and interest rates, with many relying on family financial support or multi-generational living arrangements. Despite slight affordability improvements in April 2024 compared to the previous year, starter homes remain scarce, pushing the median age of first-time buyers to 40. Examples include a Utah family contributing $200,000 to help their daughter purchase a Tennessee home, and a Cincinnati couple buying a house without family assistance.