Homes Are Selling
Over 7 million
new and existing homes were sold in
each of the past 3 years. Total home sales
are expected to exceed 7 million in 2006
for the 4th consecutive year
National Association of Realtors® and U.S. Census Bureau data
Mortgage Rates Are At Historical Lows
Mortgage interest rates have
trended down during the last 6 months.
As of Oct. 19, the average 30-year fixed
mortgage rate is 6.36%
Primary Mortgage Market Survey® data provided by Freddie Mac. Based on an average 30-year fixed mortgage rate with an average 0.5 point.
Selection is Excellent
With more
available properties on the market,
finding just the right home has never
been easier. |
Demand Will Continue
One million new households have formed each year, on average, since 2000. The number of U.S. households is expected to grow by 14.6 million during the next 10 years. Strong household growth together with rising income will likely translate into increased demand for housing
Joint Center for Housing Studies of Harvard University – The State of the Nation’s Housing 2006.
Home Sale Prices Have Increased
Median existing U.S. home sale prices have increased on average 6.5% each year from 1972 through 2005
Calculation based on compound annual growth rate of median home sale price data from 1972-2005 provided by National Association of Realtors®. |
