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Year of the move-up buyer?

Posted by Scott Van Voorhis December 23, 2013 10:52 AM

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First-time buyers kept the market from flatlining after the Great Recession.

But with the economy starting to pick up speed and prices rolling how as well, it's the move-up buyer who is now the star of the show, so to speak.

One local agent I was chatting with after church on Sunday dubbed 2013 the "year of the move-up buyer."

Makes sense to me. In fact, 2014 is likely to be an even bigger year for move-up buyers, as long as prices keep rising as they have.

Higher prices mean move-up buyers are able to use their equity to buy that larger house they have been thinking of, but haven't been able to afford.

The Boston area is especially fertile ground right now for moving up, with overall market values approaching their 2005 peak levels.

In fact, there is a lot of pent up demand right now - the biggest obstacle may be the dearth of listings on the market, with inventory skidding along as record lows.

No one wants to sell what they have only to find out they can't find another, better home to move on up into.

Are you looking at moving up? Is so, where and what's your ideal move-up home look like? What's the market look like to you right now?

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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