Friday
October 24, 2014

Top 10 Markets for First-Time Home Buyers This Spring

|
-A A +A

Top 10 Markets for First-Time Home Buyers This Spring

Florida is proving to be a haven for first-time home buyers. The state had more markets in realtor.com®’s top 10 list for first-time home buyers than of any other state.

Realtor.com® analyzed several factors that make a particular market ideal for first-time home buyers, such as city popularity, home prices, inventory, time on market, and unemployment rates to arrive at a list of the top 10 markets for first-time home buyers for the upcoming spring home-buying season.

“As we head into the home buying season, these markets show favorable conditions for first-time home buyers, which is encouraging because these buyers are crucial to the housing market,” says Steve Berkowitz, CEO of Move Inc., the operator of realtor.com®. “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.”

The top 10 markets for first-time home buyers are:

1. Pittsburgh, Pa.
Median listing price: $135,000

2. Tampa-St. Petersburg-Clearwater, Fla.
Median listing price: $169,900

3. Philadelphia, Pa.-N.J. (N.J.)
Median listing price: $174,900

4. Fort Worth-Arlington, Texas
Median listing price: $175,000

5. Orlando, Fla.
Median listing price: $191,900

6. Jacksonville, Fla.
Median listing price: $196,000

7. Philadelphia, Pa.-N.J. (Pa.)
Median listing price: $219,000

8. Dallas, Texas
Median listing price: $224,900

9. Raleigh-Durham-Chapel Hill, N.C.
Median listing price: $227,500

10. Phoenix-Mesa, Arz.
Median listing price: $244,900

Source: Realtor.com®

Read More:

The Plight of First-Time Buyers