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Santa Barbara - South County

First time home buyers face several barriers in Santa Barbara County

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Published 11:35 am

SANTA BARBARA COUNTY, Calif.— Aspiring homeowners are facing several barriers to buying their first home, from higher mortgage rates and tight inventories to crippling student loan debt.

First-time home buyers accounted for just 26% of all home sales in 2022.

Many say that it was significantly easier to buy a home a few decades ago, and research supports this.

The median age of first-time buyers in 1981 was 29. Decades later in 2022, it’s 36.

Many who end up purchasing their first home receive help from loved ones to cover part of their down payment.

We will be speaking to realtors and locals in Santa Barbara about what people can do to work towards securing their first home.

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Mina Wahab

Arab-American producer & reporter with a mission to dig deep in interviews, share authentically, shed light on the issues that matter, and provoke deep thought.

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