Nationally, prices of U.S. single-family homes, including distressed sales, saw a 5.9 percent year-over-year increase on average in May, with 21 states seeing new highs.
The median gross profit per flipped property is $56,000 — that’s about 17 percent higher than its peak value of $48,000 in the third quarter of 2005.
Chances are you’re going to chose to rent, despite a market with average rents seeing an unrelenting uptrend over the past two decades.
“Improved economic conditions and tight inventories continue to drive exceptionally strong gains in many markets.”
This illustrates housing’s biggest obstacle lately: Very low inventories of homes pushing prices beyond the reach of young buyers and others in the market.
Starter homebuyers today will need to shell out 5.6 percent more of their income — based on the median income of start-up buyers.
Factors cited by the National Association of Realtors: “Unshakably low supply levels and steadfast price growth in several sections of the country.”
More than 1.3 million ( or 1.6 percent) of U.S. residential properties were vacant at the beginning of February 2016.
Major auto insurance companies charge good drivers as much as 47 percent more for basic liability auto insurance if they don’t own their home.
Buoyed by tight supplies in many markets, home prices finished 2015 with a healthy 6.3 percent year-over year gain.