Did you know…
Housing is a key driver of the economy, accounting for 15% of the Gross Domestic Product.
The typical home purchased in 2010 was built in 1990.
The median Texas home price in 2010 was $148,400.00. In the Northeast it was $237,300.00. Out West it was $204,000 and in the Midwest it was $139,700.
For the past 12 years, the average homeowner’s net worth has been 31-46 times that of the average renter. The largest portion of a person’s income is used for housing – 34%. It is now cheaper to buy than rent in nearly 3/4 of American cities.
The percentage of homes sold in 2010 that were new construction homes was 15%.
Percentage of homes purchased in a subdivision or suburb was 52%.
In November of 2010 there was 9.5 months of inventory on the market and in December of that same year there was a supply of 8.1 months.
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