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®