We all intuitively know owning a home tends to increase one’s net worth. A recent Federal Reserve Survey of Consumer Finances quantified the wealth gap between homeowners and renters. If you currently rent , you may what to sit down. In 2013, the net worth of the typical U.S. homeowner was 36 times that of the […]
In residential real estate, the best number to track to understand the current market conditions is months of inventory. Months of inventory is the number of months until all of the homes currently listed for sale are sold per the current rate of sales. For example, if a particular area has 90 active listings on the market and 30 pending […]
A Nielsen Scarborough USA+ study found that during the past year, new homeowners spent $18 billion on home improvement projects. There is a trend of home improvement projects for new homeowners and the graphic below shows the most popular.
A National Association of REALTORS® survey named the “2013 Profile of Home Buyers and Sellers” provided some interesting insight to the characteristics of home buyers and the type of home they purchased. Savvy home sellers can read this data to do what they can to make their home more appealing to buyers. While the savvy home […]