First-Time Buyers Are Boosting Home Sales
The NATIONAL ASSOCIATION OF REALTORS® says more than 50 percent of home sales in March involved first-time buyers. Many took advantage of the short sales and foreclosed homes (that make up about 1/3 of our local real estate market.) Experts believe a recovery will be sparked by first-time buyers who are recognizing the value of historically low interest rates and federal tax credits. It stands to reason that these buyers will reduce the glut of homes on the market, which will help to stabilize the market. First-time buyers are helping to revitalize communities in Florida, California, and other states hit hard by foreclosures. However, distressed properties often sell for 20 percent less than traditional properties, and the increase in lower-end sales is driving down the national median home price. The silver lining is for first-time buyers who have entered the market after years of being priced out of it. _________________________________________________________
The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119
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