Calling all homebuyers: Economists have a message for you. They say time is on your side as you prepare for your first property purchase. That’s because the supply of homes, once tighter than a drum, is gradually increasing.

“Several consecutive months of rising inventory is a positive development for consumers and could lead to slower home price appreciation,” says Lawrence Yun, the chief economist for the National Association of Realtors (realtor.org).

At Zillow, the housing data company, senior economist Aaron Terrazas says that buyers intent on purchasing a brand-new home are in a particularly advantageous position.

“More newly built homes are seeing their list prices drop,” he says.

What’s behind the shift to a more balanced market for buyers? For one thing, economic uncertainty has led to an overall decline in sales of existing homes, which plummeted 6.4 percent in December. This translates to fewer purchasers competing for the same properties.

Another factor easing pressure on would-be buyers is that mortgage rates, widely expected to soar early this year, have recently moderated, bringing them back within the range of historic lows.

What all this means for those seeking to gain a foothold on the first step of the housing ladder is that they can proceed at a reasonable pace and still find a desirable and fairly priced property. Except in the hottest markets, they have less reason to fear losing out in multiple bidding situations.

Eric Tyson, a personal finance expert and co-author of “Home Buying for Dummies,” says a slowdown in the frantic market is a positive for many young buyers who are saddled with student debt and credit card payments and need time to save for their down payment and closing costs.

But he says that even buyers who are debt-free are often better off moving cautiously toward a first-home purchase.

“Making a major housing move is analogous to a big career change. Because both can have consequences for years to come, there’s no reason for rushing into any decision you could regret later,” Tyson says.

Here are a few pointers for long lead-time buyers:

-- Locate an experienced real estate agent to guide you.

People who are moving to a new metro area are well advised to search for an agent who has years of experience selling homes in any community they’re considering, says Tom Early, a real estate broker and former president of the National Association of Exclusive Buyer Agents (naeba.org).

Before you start looking at specific properties, a strong agent will help you navigate the new locale, supplying you with data on home prices and valuation trends, relative school performance statistics and information on nearby amenities.

-- Play reporter in your quest for a desirable neighborhood.

The area where you choose to live is a major factor determining your lifestyle -- and that’s why neighborhood choice matters greatly.

“Homebuyers should always take the time they need to compare neighborhood alternatives before moving,” Tyson says.

As you develop a short list of neighborhood options, some of the most useful sources for reality-based information are people who live and work in the areas you’re considering.

What’s the best way to approach neighborhood residents? Early recommends you walk through the community on a weekend afternoon when many people are likely to be out in their yards. Tell them you admire their neighborhood and are considering a move there. Then feel free to politely pose a few questions.

“If people start giving you the cold shoulder, you can bet that neighborhood is unfriendly. For that reason alone, you may want to drop it from your list,” Early says.

Those considering a condo-apartment may find it harder to chat with a building’s residents, though some may talk to you as they enter or exit the complex. Also, an agent who lists property in that building may line up contacts for you.

-- Supplement your search with visits to open houses.

If you’re a long lead-time buyer planning a major move, you needn’t rely solely on your agent to help you sort through your choices.

“By visiting a lot of open houses, you can narrow down what you do and don’t like in a home. Eliminating options can be extremely useful in narrowing your search,” Early says.

Many open houses are heavily advertised with street signs posted by the listing agents for the properties. If you’re considering condo-apartments, however, Early suggests you consult local newspaper or online ads for open-house details.

-- Drop any agent who attempts to pressure you to buy prematurely.

Although agents are compensated on commission -- and therefore don’t make any money until a sale goes through -- a reputable one won’t try to hurry you into a purchase before you’re ready.

“It’s a big red flag if an agent starts pushing you,” Tyson says.

Of course, it’s not fair to ask the agent to spend multiple weekends over months showing you property unless you’re progressing toward your ultimate goal. Every veteran agent has had to cut ties with clients who looked continuously without any serious intention of buying.

Still, as Tyson says, it’s not unreasonable to spend up to six months doing intermittent (yet focused) outings with an agent before committing to a property purchase in an area that’s new to you.

“A reputable agent will be patient with homebuyers who are heading in the right direction and just need time,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

There was a period lasting until a few months ago when there was sweat on the brows of many millennial homebuyers seeking their first property. Buying a first house was a competitive sport -- often involving multiple offers and escalation clauses -- because inventory was in such short supply, particularly in the starter home category.

But much has changed in a very short period of time. Granted, there are still too few starter homes available in popular neighborhoods, and prices are definitely not plummeting. Yet many aspiring homeowners from the millennial generation -- born between 1981 and 1996 -- are in much less of a rush than before, according to Steve Israel, a longtime broker who heads his own realty firm.

Israel works solely with buyers and takes no sellers’ listings. In doing so, he’s constantly assessing the moods and attitudes of his purchasing clients. And that puts him in a position to give homeowners advice on selling tactics.

“If I were a seller, I’d be much more nervous about going into this upcoming spring market than if I’d been selling last year,” he says.

What’s causing the slight diminution of buyer enthusiasm? According to Israel, wannabe buyers are feeling unsure about the strength of the U.S. economy and also worry they’ll face rising mortgage rates.

Israel says sellers seeking to appeal to millennial buyers must make sure they present their property in a way that brings comfort to young purchasers, who favor light, bright and clutter-free living.

“It’s always a downer if a house isn’t cleaned up or painted or has dirty floors and carpets. It’s also a negative if your front door and entryway are in bad shape,” says Israel, who’s affiliated with the National Association of Exclusive Buyer Agents (naeba.org).

Moreover, he stresses that millennials -- who now represent about 36 percent of the buyer population -- are uncomfortable about the idea of acquiring a place that needs substantial repairs and fix-ups.

“They’re not lazy, but they grew up at a time when they were heavily scheduled by their parents and didn’t have chores around the house. They’re incredibly price-conscious, but lack confidence in their ability to do even cosmetic home improvements,” Israel says.

Here are a few pointers for sellers aiming for the millennial market:

-- Think about hiring a professional “stager” to help make your place show-worthy.

Staging is the art of transforming a property so potential buyers can visualize themselves living there. Properly done, staging accentuates a home’s attractive features and minimizes its negatives.

Many real estate agents are convinced that hiring a talented stager can increase the odds of selling a property promptly. Working under a full-service contract, most stagers will provide an array of services. They’ll remove excess furniture and personal items and rearrange the remaining pieces. Often, they also supplement the owners’ furnishings with alluring accessories of their own.

Unfortunately, the cost of hiring a professional stager for a full menu of services can exceed $500 or more, says Michelle Minch, the owner of a staging company called Moving Mountains Design.

But Minch says cash-constrained sellers don’t necessarily need the full range of services available through a stager. For a much lower price, perhaps around $100, they can obtain an abbreviated consultation and receive pointers they can execute themselves.

“Tell the stager you just want the 10 top tips for making your house look better. For just an hour or so of consultation time, a good stager can tell you about furniture arrangement, and also recommend mild, pleasing paint colors for your walls,” she says.

How can you find a competent stager to work on an “a la carte” basis? Minch suggests you visit the website of the Real Estate Staging Association, realestatestagingassociation.com. Look for stagers in your area and make sure to check their websites for examples of their work before you give them a call.

-- Invite friends and family members to a home-selling fest.

Lisa Atkinson, a real estate agent affiliated with the Residential Real Estate Council (crs.com), says traditional open houses rarely lead to a sale. Most serious buyers see homes on an appointment basis -- during a tour led by their agent, she says.

A better way to ignite renewed interest in your place is to throw a “home-selling party,” inviting your close friends and relatives. Such a party is more likely to lead ultimately to a sale. That’s because those close to you will be more motivated to promote the sale of your home than are strangers.

“In any case, the party can help revive your excitement about your home-selling goal,” Atkinson says.

-- Ask your listing agent to promote your sale by contacting other local pros.

Until a few months back, well-priced properties in coveted neighborhoods practically sold themselves, and listing agents had relatively fewer marketing responsibilities. But in the current market, buyers are gradually gaining power. These days, the well-honed marketing skills of an experienced listing agent are as important as ever.

One key marketing skill your listing agent can use is to “talk up” your place to other real estate agents who have home-buying clients of their own.

“Strong agents will respond to your request to step up informal marketing of your place by spreading the word. They’ll make personal phone calls to other agents. They’ll also take fliers about your house to their professional meetings and hand them out,” Atkinson says.

Your listing agent may have done this sort of one-on-one marketing for your property when it was first listed. But if your house has been sitting unsold for longer than you’d like, it might be time to ask your agent to do another round of this informal promotion.

“By alerting other agents to your property, your listing agent will enhance your chances of finding a buyer,” Atkinson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

After the Great Recession of 2008, many millennials moved back home. Since then, unemployment has plummeted and many more of these “boomerang kids” have jobs. Yet a surprising proportion of them still reside with their folks.

“The extended family is here to stay -- at least for the time being,” says Ashley Richardson, a veteran real estate agent in Maryland.

Richardson tells the true story of a couple of clients with a daughter in her mid-20s -- a barista -- who still lives with them. The parents sought to move from their large, demanding property to a much smaller colonial with a first-floor master suite and a tiny yard.

But the daughter put up a lot of resistance until her parents found a house where she’d also have her own master suite.

Richardson offers a few words of wisdom to downsizers in similar situations.

“Remember, you’ll probably be living in the new place a lot longer than your son or daughter. So always think of your own housing needs first,” she says.

Frank Furstenberg Jr., a sociology professor emeritus at the University of Pennsylvania, sees the big picture on family demographic trends. He notes that many young adults are still saddled with student debt, which slows their transition to independent living. But he contends most parents needn't fear that their offspring will need housing help indefinitely.

“People in the U.S. are marrying later, so the passage to adulthood is longer. But by age 25 to 29, there’s a huge drop-off in the number of young adults still living at home,” Furstenberg says.

Here are a few pointers for downsizers who reside with adult children:

-- Honor your retirement plans.

For people contemplating retirement on a limited income, the idea of keeping a large family home to accommodate grown offspring compels them to dip into savings or stay in the workforce longer than they’d like. Keeping the large family home can also mean continuing to shoulder tiring home maintenance demands.

John Rygiol, a California real estate broker who specializes in helping buyers, says he’s seen too many clients who’ve sacrificed their retirement security to maintain quarters for grown children.

“These kids are eating their parents’ lunch. Mom and Dad shouldn’t have to sacrifice their retirement plans for the kids,” he says.

Of course, many young adults living in the family home are unaware of their parents’ financial situation. Nor do they grasp the full cost of owning and maintaining a large house. That’s why Rygiol suggests that an important first step toward your housing transition could involve a family meeting to go over these realities.

“Sit down at the kitchen table and explain the whole situation to your kids. Outline all your expenses for the big house and why you need to move to economize,” he says.

Obviously, many young adults are well intentioned, and once they realize how important it is for their parents to downsize and cut costs, they’re more motivated to find their own housing solutions, according to Rygiol, who’s affiliated with the National Association of Exclusive Buyer Agents (naeba.org).

-- Don’t rule out a temporary rent subsidy for your offspring.

Given high rental rates in many metro areas, it can be a jarring transition for young people expelled from their parents’ residence without sufficient funds to cover their own housing costs.

Should the downsizing parents of adult children help them pay for a place of their own, however briefly? Rygiol thinks this is a plausible idea in some cases.

“If you can afford it, maybe give the kids the equivalent of six months' worth of rent for a modest apartment, plus the money to cover the security deposit,” he says.

-- Consider buying an inexpensive place where your offspring could live temporarily.

Clearly, many parents are money-strapped as they head toward retirement, which is the reason they must downsize. They need to take what equity they have in their big home and use those funds to buy their smaller place. Because of this need, they don’t have extra discretionary cash.

But retiring parents who have ample funds might consider purchasing a small investment property where their offspring can live for a limited period until they’re on their feet financially, says Donna Goings, a Virginia real estate broker affiliated with the Residential Real Estate Council (crs.com).

She recommends that anyone considering this plan make sure their offspring know the property is for their short-term use only and will likely be converted to a rental property in a few years.

Interested in the idea? Then search for a place that should be easily rentable in the future, perhaps because it’s located near a university where student housing is always in demand or because it’s situated in a popular resort community.

“Alternatively, you might buy your son or daughter an inexpensive duplex. They can live in one side and rent out the other for income to help support themselves for the short term,” Goings says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)