Buyers in the northeastern United States visit open houses more frequently than rest of country
– April 26, 2012 – This weekend (April 28 & 29), people who are interested in buying a home will have an easy opportunity to visit many of the thousands of homes for sale in Massachusetts and the United States during the 3rd Annual REALTOR® Nationwide Open House Weekend. People interested in visiting an open house can go to www.maRealtorOpenHouse.com
to find listings of homes for sale in all price ranges, resources for buyers and sellers and instructions on how to find a local REALTOR® member.
“With nine straight months of increasing homes sales in Massachusetts, the real estate market has made good strides towards recovery and the 3rd Annual REALTOR® Nationwide Open House Weekend looks to help keep the momentum going’ said Massachusetts Association of REALTORS® 2012 President Trisha McCarthy, broker at Keller Williams Realty in Newburyport. “This special weekend will give buyers the opportunity to tour a large selection of open houses first-hand and get a real good feel for what’s available in what price ranges.”
MassHousing, the state’s affordable housing bank, continues to endorse REALTOR® Nationwide Open House Weekend in Massachusetts for buyers who qualify for their safe and secure loan programs.
“This is a buyer's market, no question, especially if you are looking for your first home,” said Thomas R. Gleason, Executive Director of MassHousing. “REALTORS® are going all out this spring staging open houses; interest rates are very low; home prices have come way down and for those buyers who meet our income limits MassHousing offers loans with as little as 3% down and no mortgage insurance requirement. The market is rebounding along with the economy and buyers would be wise to get out this weekend to see as many homes as possible.”
This third annual event gives buyers at all levels a stress-free way to see a wide range of homes for sale and learn more about home ownership. This includes learning about the buying process and the local real estate market to information on the local community. REALTORS® are also a good source of information on housing issues at the local, state and federal levels that may impact current and future home owners. For sellers, the weekend will provide additional exposure of their homes to interested buyers.
Who goes to open houses?
• 68% of buyers in Massachusetts take advantage of visiting an open house as part of their home search process. Nationally, only 45% of buyers do.
• Home buyers in the northeastern United States visit open houses more frequently than any other region in the country.
• 94% of all buyers felt going to an open house was either very useful (56%) or somewhat useful (38%).
• 79% of sellers in Massachusetts used an open house to help market their home. Only 58% of sellers nationally used open houses.
The data is from the 2011 Massachusetts Profile of Home Buyers & Sellers, compiled by the National Association of Realtors® (NAR), on behalf of the Massachusetts Association of REALTORS® (MAR).
About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 19,000 members and the leading advocate for home ownership in Massachusetts. The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.
Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.