Spring is in the air and with that brings the beginning of home buying season. Everyone knows the three most important things about real estate are location, location, and location. So what are the best markets for first-time homebuyers to purchase in?
Realtor.com compiled a list of the top 10 markets for first-time buyers to purchase residential property in and based it on median listing price, inventory, unemployment rate, and age of inventory:
- Pittsburgh, PA
- Tampa – St. Petersburg – Clearwater, FL
- Philadelphia suburbs in New Jersey
- Fort Worth-Arlington, TX
- Orlando, FL
- Jacksonville, FL
- Philadelphia suburbs in PA
- Dallas, TX
- Raleigh-Durham Chapel Hill, NC
- Phoenix-Mesa, AZ
Steve Berkowitz, CEO of Move, Inc. the operator of realtor.com said, “As we head into home buying season, these markets show favorable conditions for first-time buyers, which is encouraging because these buyers are crucial to the housing market. First-time buyers have a widespread impact on the local housing markets. In transitioning from renters to owners, new buyers pay property taxes and other fees and taxes associated with home ownership that benefits local schools and services.”
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