Markets for First-Time Buyers
Markets for First-Time Buyers
What makes for a great market for first-time buyers? Areas that have strong job markets, short commute times, affordability, high inventories of homes for sale, and a population that skews younger, according to realtor.com®’s newly released Best Markets for First-Time Homebuyers Report.
“Buying a first home is always a challenging undertaking, and it’s been an especially tough couple years for first-time buyers, many of whom are struggling to find a home that’s within their budget to win in a competitive bidding situation,” says Danielle Hale, realtor.com®’s chief economist. “With this in mind and the fact that remote work has given people more flexibility in where they live, we wanted to identify markets where first-timers have a chance to become homeowners and find a great quality of life.”
Realtor.com® found a lot of commonalities in markets that tend to be havens for first-time home buyers. For example, the top markets generally offer nearly twice the number of homes for sale than the national average. Also, they have a younger population than the country overall:—an average of 15.2% of residents who are between the ages of 25 to 34 years old, compared to 13.5% for the nation. They also tend to offer more affordable homes with the home price-to-income ratio in the top markets lower than the national average.
All the cities on realtor.com®’s list are located within metro areas that are predicted to have strong home sales and price growth in the future too, making them likely smart investment buys as well.
The following are the 10 markets that topped realtor.com®’s list as best markets for first-time buyers in 2022:
Source:
©National Association of REALTORS®
Reprinted with permission
admin
For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.
Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.
When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.
For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.
