It’s very important to understand your market and your property just like evaluating a property. Understanding the real estate facts and statistics will help you identify the current trends in local markets and guide you to predict the right neighborhood, properties, and features.
For some real estate can be a boring business..or maybe not, but if you’re interested to look into the statistics of real estate you may get to know a lot of interesting facts.
There are five times as many vacant houses as there are homeless people in the United States.
In 2009, there were more foreclosures in the United States.
In Scotland, the owners will use a bright red color to paint their doors when they pay off their mortgage.
Don’t worry that your house is too small because most of the houses in developing countries are 75 square feet.
A homeowner’s net worth will be 30 times greater than that of a renter.
In the U.S, if you notice a winged eagle over the front door then it represents that the homeowners have paid their mortgage.
8 out of 10 non-homeowners indicate that owning a home is part of their American Dream.
The average mortgage down payment for homebuyers is 6% for first-time buyers for the last three years running.
Even the doorknobs disinfect themselves like iron, silver, lead, aluminum, and copper. Use brass to avoid such issues.
90% of people responded to the 2016 National Association of Realtors Survey and reported that they worked with a realtor for both buying and selling a home.
For sale by owner vs realtor statistics
36% of sellers are trying to sell their homes themselves. This will be more challenging than they expected, so obviously they will hire an agent.
About 10% of people will eventually sell their homes themselves.
If an owner is selling the house then they will get lower bids.
People who sell on their own are mostly youngsters and live in urban areas.
High-quality photos, especially aerial images, help people to sell their homes, especially when they are marketed online.
People who are selling their homes without agents will be motivated to sell them for top dollar.
Many feel confident in their ability to sell their home. Listings will be done by the agent which is growing in popularity, reaching an all-time high.
The whole market size of property management business market is $88 billion. There are a total of approximately 291,978 property management businesses in the U.S.A