Mid-Atlantic real estate professionals are bullish on the housing market this spring, particularly due to the growing number of first-time home buyers entering the market.
In its 2016 Mid-Atlantic Housing Market Survey, MRIS – one of the nation’s largest multiple listing services – found that 57 percent of nearly 750 real estate professionals recently surveyed expect this spring to be busier than last year. The majority of the respondents cited low mortgage rates as the main reason they believe buyers will act faster this year than last year.
Eighty-eight percent of respondents predict there will be more first-time buyers this year too. With that growth, how do you appeal to first-time buyers with your listings? Respondents rated the following home features as the most important to first-time home buyers:
- Updated kitchen and bath: 81%
- An open floor plan: 59%
- Low-maintenance features: 43%
- Walkable communities: 36%
- Energy efficiency: 20%
- Strength of cell phone service or WiFi: 19%