Friday Facts: Glimpses Into the Housing Market

FRIDAY FACTS

Glimpses into the housing market

  • From RIS Media: Doug Duncan, Senior VP and Chief Economist for Fannie Mae says “August National Housing Survey results support our forecast that 2015 will likely not be a breakout year for housing. To date, this year’s labor market strength has not translated into sufficient income gains to inspire confidence among consumers to purchase a home, even in the current favorable interest rate environment”.

 

  • From Banker & Tradesman: Housing Market Cools, Bifurcates. “In a cooling market – U.S. home values rose more slowly in August than they have in a year – leads to a clear divergence between buyers and sellers markets.” Sellers have the most negotiating power and leverage in greater Boston: Somerville, Cambridge, Arlington, Brookline and Watertown. Here, home values are rising, on the market for a shorter period, and sell closer to or greater than list. Buyers have the most favorable conditions and are less likely to face bidding wars in Marlborough, Plymouth, Lowell, Brockton and Haverhill.

 

Why does it matter?

 

  • From KCM Blog:
  • The average American family has a net worth of $81,200/year
  • Of that, 61.4% ($49,856) is in home equity
  • A homeowner’s net worth is over 36X that of a renter.
  • The average homeowner has a net worth of $194,500 while the average renter has a net worth of $5,400.

 

Advertisements
This entry was posted in Friday Facts and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s