On January 25th Patch.com reported that Massachusetts is seeing the fewest first-time homebuyers in twelve years, according to their source the Massachusetts Association of Realtors. They reported that first-time home buyers made up just 39 percent of the total homes bought in Massachusetts in 2014 (down from its usual 44.5 percent).
There certainly are buyers out there looking. I'm working with first-time-buyers right now who are searching for an affordable home, but with low inventory and high prices, they don't have a lot to choose from. I have to agree with MAR president Corinne Fitzgerald who says “While the market in Massachusetts has been steadily improving, the lack of homes for sale, and the resulting upward pressure on prices has pushed a lot of first-time buyers to the sidelines.”
I see this as a great opportunity for sellers under $400k in Metrowest. There's plenty of time left to begin preparing your home for the Spring Real Estate market, and make the American Dream of home ownership a reality for an eager first-time buyer.
To read the full Patch article click here:
* Listing data per MLSPIN.
Contact Maria Romero Vagnini to find out your home's value in the current Real Estate Market at 617.640.1400 or email firstname.lastname@example.org.
Maria Romero Vagnini
I am a Realtor with Mathieu Newton Sotheby's International Realty, working with buyers and sellers in suburban Boston's Metrowest communities.