Category Archives: Infographics

Auto Added by WPeMatico

The Cost of Renting vs. Buying [INFOGRAPHIC]

Historically, the choice between renting or buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (28.8%) vs. the percentage needed to buy a median-priced home (17.1%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

June is National Homeownership Month!
Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial.
What reasons do you have to own your own home?

Existing Home Sales are now at an annual pace of 5.46 million.
Inventory of existing homes for sale dropped to a 4-month supply, marking the 35^th month in a row of declines.
The median price of homes sold in April was $257,900. This is the 74^th consecutive month of year-over-year price gains.

According to the US Census Bureau, ‘millennials’ are defined as 18-36-year-olds.
According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32.
More and more ‘old millennials’ (25-36) are realizing that homeownership is within their grasp now!

Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking much about it.
Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back.
What are you willing to cut back on to make your dreams of homeownership a reality?

The National Association of REALTORS® recently surveyed their members for their Confidence Index.
The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.
Homes sold in less than 60 days in 35 out of 50 states and Washington D.C.
Homes typically went under contract in 30 days in March!

According to the latest Existing Home Sales Report from the National Association of Realtors, sales grew 1.1% in March to an annual pace of 5.60 million.
This is the strongest pace since November of 2017.
Inventory levels dropped year-over-year for the 34^th consecutive month and are now 7.2% lower than March 2017 levels, representing a 3.6-month supply.

A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices!
Inventory continues to rise in the luxury & premium home markets which is causing prices to cool.
Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise!

Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership.
In 2017, $188 billion was loaned to veterans and their families through the program.
VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.

Historically, the choice between renting or buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!