Sunday, July 7, 2019 / by Jordana Tobel
1. How many houses were sold in 2018?
Approximately 5.4 million homes were sold in 2018. This includes both existing homes and new construction. (Source: Realtor.com)
2. What states have the highest property taxes?
Here are the top 10 states for high property taxes for 2018:
- New Jersey: $8,780
- Connecticut: $7,222
- New York: $6,947
- New Hampshire: $6,253
- Massachusetts: $6,019
- District of Columbia: $5,480
- Rhode Island: $5,368
- California: $5,354
- Vermont: $5,331
- Texas: $5,265 (Source: CBS News)
3. Which states pay the lowest property taxes annually in 2018?
Property taxes are lowest in the southern part of the United States. The two exceptions are Hawaii and Delaware. Here are the seven states that had the lowest property taxes in 2018:
- Alabama: $550
- West Virginia: $629
- Arkansas: $721
- Louisiana: $750
- South Carolina: $821
- Delaware: $1,274
- Hawaii: $1,459
(Source: GoBankRates) housing statistics
4. How much is The White House currently worth?
Appreciating in value by 15% in total since 2009, the White House is currently worth $397 million (both the house and property). (Source: Architectural Digest)
5. Which states have the highest number of retirement communities?
While it’s difficult to pinpoint the total number of retirement communities due to varying business classifications, here are the top 10 most popular states for retirement as of 2018:
- South Carolina
- New Mexico
6. What is the median income and age of first-time compared to repeat buyers?
The median income for first-time homebuyers is $75,000 and their age is 32 years old.
Repeat buyers make about $100,000 per year and are about 55 years old.
7. What states have the highest and lowest mortgage payments?
Washington, DC, Hawaii, and California top the list of highest mortgage payment states in the U.S., with payments ranging from $1,642-$1,784 per month.
West Virginia, Arkansas, and Indiana are at the bottom of the list; payments in these states average $700 per month. (Source: LendingTree)
8. What states are building the newest houses in 2019?
Here are the top 10 states for new house construction in 2019:
- South Carolina
- West Virginia
- New Mexico (Source: ConExpo)
9. What cities are currently the most expensive/inexpensive for renters?
The highest median rent in the United States is in Los Angeles at $2,600 per month. The lowest median rent is in Toledo, Ohio at $550. (Source: CNBC)
10. What generation represents the top buying market in 2018?
Using the completion of a mortgage application as a guideline, the biggest buying marketing belongs to millennials with 45%, followed by Gen Xers with 37%, boomers with 17%, and others with 5%. (Source: Realtor.com)
11. What generation used a real estate agent the most in 2018 for buying a home?
Leading all other generations, 90% of all Millennial home purchases in 2018 were completed with the help of an agent. (Source: HousingWire)
12. How many Americans owned a house in 2018?
As of 2018, there were 121 million homeowners in the United States; this accounts for 66% of all Americans. (Source: Realtor.com)
13. What cities/states will see the largest increase in real estate buyers in 2019?
Real estate marketing trends and statistics indicate that these are the nine cities with the largest predicted increase in real estate sales in 2019:
- Augusta, GA – 8.8%
- El Paso, TX – 7.9%
- Chattanooga, TN – 5.2%
- Tulsa, OK – 5.1%
- Norwalk, CT – 5%
- Lakeland, FL – 5%
- New Haven, CT – 4.9%
- Allentown, PA – 4.6%
- Grand Rapids, MI – 4%
- Scranton, PA – 3.9% (Source: Realtor.com)
14. What are the most expensive houses in the world?
The most expensive houses in the world — based on current value — run from $1.55 billion on the high end to $400 million on the low end. This includes Buckingham Palace in London ($1.55 billion), Antilia in Mumbai ($1 billion), Villa Leopolda in Villefranche-sur-Mer, France ($759 million), and Odeon Tower Penthouse in Monaco ($400 million). (Source: Investopedia)
15. What are the seven most important features for homebuyers?
Studies show that the seven most valuable features for prospective homebuyers are the laundry room, garage, hardwood floors, energy-saving appliances, kitchen, walk-in closets, and the master bathroom. (Source: SHBA)
16. How many households were in the U.S. in 2018?
American households numbered 127 million in 2018. This is up almost 10 million from a decade ago. (Source: Statista)
17. In what cities is it hardest to buy a house in 2019 due to the competition?
Competition to buy a house can be heavy — even for shoppers who have loan pre-approval, a down payment, and a high credit score. These are the states where prime shoppers still struggle, based on average down payments, density of high-credit buyers, and general buyer saturation: Denver, Los Angeles, Portland, San Francisco, and San Jose. (Source: Business Insider)
18. Which cities currently have the most renters?
The population of renters in large cities around the United States is increasing year over year. Currently, the five cities with the most renters are Newark with 74% of total residents, Jersey City with 70%, Miami with 68%, New York with 65%, and Boston with 64%. (Source: NY Times)
19. What is the average size/cost of a tiny house?
A tiny house averages 100-400 square-feet in size and includes a bathroom, sleeping area, kitchen, and living space. The average cost is about $46,000. (Source: Tiny Society)
20. What state is seeing the largest increase in homebuyers?
Texas is seeing the highest numeric growth in homebuyers.
Florida and Utah are also making strong showings, according to 2018 data. (Source: US Census) Bottom Line – Housing Statistics
As evidenced above, the most astounding housing statistics include buyer growth in various metropolitan markets, the movement of people between cities/states, and generational shifts in using an agent to buy a home. Contact Premier Listings for all of your real estate needs.