Report reveals the surprising Northeast state where the most first-time homeowners are buying houses

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Report reveals the surprising Northeast state where the most first-time homeowners are buying houses

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Rhode Island has emerged as the top state for first-time homebuyers, according to Freddie Mac's latest market outlook. The state recorded a 14.3 percent surge in the share of mortgages going to first-time buyers since 2019 - the highest increase nationwide. The trend is surprising, given the state's high housing prices. In September, Rhode Island's median home listing hit $569,950, well above the national median of $425,000. However, with just 1,465 active listings last month, the state's small market magnifies the impact of first-time buyer activity.
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