Are you looking for statistics? Recently NAR just released new information on December 2006. Information Central has compiled some of the most requested statistics for quick and easy access. It’s the information that you need, at a glance.
- America’s Housing Sector and the EconomyIn 2001, existing home prices appreciated at a rate of 6.3%, the largest increase in over a decade.The majority of studies indicate that households spend 30-40% of their disposable income on housing-related expenses. These expenditures assist in supporting other sectors of the economy. Nearly 70% of all tax revenues raised by local governments in the US derive from property taxes. Homeowners contribute roughly 43% of property taxes, and commercial property taxes contribute the remaining 57%. The National Association of Home Builders estimates that the construction of 1,000 single-family homes generates 2,448 full-time jobs in construction and related industries, $79.4 million in wages and $42.5 million in combined local, state and federal revenues and fees.
- Home Buyer & Seller Statistics Active home search (median): Number of Weeks Searched – 8Number of Homes seen -9 Method of Home Purchase, By Use of Internet: Agent/Broker – 81%Direct from Builder – 10%Direct from previous owner whom buyer didn’t know – 5 % Definitely would use same agent again: 66% Actions taken as result of using Internet site: Drove by/viewed a home – 74%Walked through a home viewed online- 61%Found agent used to search/buy home – 23% Prior Living ArrangementOwned previous residence- 49%Rented an apartment or house – 38%Lived with parents, relatives or friends- 9%
- What Repeat Buyers Want Most From Real Estate Professionals Help you find the right house to purchase -53% Help with price negotiations – 13% Help with paperwork – 8% Tell you what comparable homes are selling for – 11% Help determining how much buyer can afford – 11% Help find and arrange financing – 2%
- Information Sources Used in Home Search Real estate agent – 85% Yard sign – 63% Internet – 80% Newspaper – 55% Home book/magazine – 34% Open house – 47% Builders – 26% Television – 11% Relocation company – 5%
- For Sale By Owner (FSBO) StatisticsDid you know?. . . the typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales.
FSBO Methods Used to Market Home:Yard Sign . . . 51%Friends/neighbors . . . 53%Newspaper ad . . . 31%Open House . . . 29%Listing on the Internet . . . 22%
Most Difficult Tasks for FSBO Sellers:Getting the right price . . . 11%Understanding paperwork . . . 16%Preparing/fixing up home for sale . . . 18%Attracting potential buyers . . . 9%Having enough time to devote to all aspects of the sale . . . 9%
For more information, please contact Meservier & Associates. We know the Maine real estate market and we can hep you!
Meservier & Associates hopes you have a great Holiday Season!