10 Interesting Real Estate Market Facts
This month we thought we’d show you some interesting facts on the US Real Estate market! Everywhere you go, people are talking real estate. Give us a call with questions, we love to talk shop!
- Home values in the United States have increased 7.2% since 2018.
- There are almost 44 million renter-occupied homes in the US, in contrast to 75 million owner-occupied homes.
- Thirty-two percent of investment property owners are currently renting or are planning to rent their homes as short-term vacation rentals.
- The average nightly rental rate in the US for short-term rentals is $217 per night, with a range of $186 to $978 per night in popular vacation destinations.
- By 2025, Millennials are expected to form more than 20 million new households.
- 91 of the 100 top housing markets have seen rent increases over the past year.
- “Unexpected repairs and maintenance” was cited by 36% of homeowners as their biggest home buying regret.
- For 78% of home buyers, neighborhood quality is more important than home size. 57% would rather have a shorter commute than a larger lawn.
- 12 million US homeowners spend more than half of their income on rent.
- The average real estate market lifecycle — involving a pendulum swing from a seller market to a buyer market and back again — is 10-16 years.
**information from https://learn.roofstock.com/blog/real-estate-facts