State’s new buyer average well above national number
Despite low inventory and rising prices‚ first-time buyers still make up a significant portion of the Bay State housing market.1 More on this‚ plus other news from the Massachusetts Association of REALTORS®:
- Forty-five percent of homebuyers in Massachusetts were first-timers in 2019—well above the national average of 33%.
- Real estate professionals are in demand here in the Bay State: The percentage of buyers who used one to buy a home last year (93%) bested the national number (89%).
- Massachusetts buyers are also younger (median age of 32 vs. 47 nationally) and financing at a higher rate (88% of purchases) than the rest of the country (86%).
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1Eric Berman‚ “Study finds first-time home buyers remain a significant portion of the market in Massachusetts in 2019‚” Massachusetts Association of REALTORS®‚ last updated January 30‚ 2020.