Thursday, December 01, 2011

Real Estate Facts & Figures

Below are some facts and figures about the current real estate market, and what people think about it.

  • 81% of Americans view real estate as a good investment
  • 78% of Americans feel that housing prices will hold steady or increase over the next 12 months.
  • It is cheaper to buy/own a home than to rent in 80% of the major markets in the US.
  • 25% of young Americans plan to buy a home in the next two years.
  • 95% of homeowners are happy they decided to buy a home.
  • First time home buyers comprise 35% of the total home sales.
  • 67% of first-time home buyers said that the real estate market conditions gave them the opportunity to purchase a home sooner than expected.
  • 50% of buyers found a home in a better neighborhood than expected.
  • 61% purchased their home at a price better than expected.
  • 43% received a mortgage interest rate better than expected.
  • 69% of Americans say that now is the best time to buy a home
  • 88% of people search for homes on the internet, and 40% found the home they eventually purchased on the internet.
  • 87% used a real estate agent to buy a home.
  • For Sale by Owner homes reach a record low, only accounting for 6% of total sales.
  • The average home seller was in their home for 9 years, and had 16% increase in equity when they sold it.
  • The median age of a first-time home buyer was 31. The median age of a home seller was 53
  • 60% of first-time home buyers bought because they "just wanted a home of their own".
  • The median down payment for first-time home buyers was 5%.
This information was compiled from two surveys, including one just released by the National Association of Realtors.

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