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.
My friend at Great American Title, Liz Lord, gave me this information and it comes from Brian Buffini’s Real Estate Report. Thought you might find it interested because I did!