Glenn Crellin from the Runstad Center for Real Estate Research Studies gives us a recap of some of the third quarter 2012 statistics and how they impact the real estate industry in Washington. You can get more information at the Center's website at: http://www.reuw.washington.edu/
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Washington Real Estate Statistics • January 15, 2013
Real Estate Statistics Q3 2012
by Steve Hill
Buying a Home Can Be Scary… Know the Facts [INFOGRAPHIC] Some Highlights: 36% of Americans think they need a 20% down payment to buy a home. 44% of Millennials who purchased a home this year have put down less than 10%. 71.8% of loan applications were approved last month. The average credit score of approved loans was 731 in September.
Percentage of Homeownership by Decade and by State There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the homeownership rate reached an all-time high of 69.4%, while the current rate is 62.9%. When comparing these two figures, there is some room for concern regarding the difference. However, today we want to shine some […]
What to Expect When Home Inspecting So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection. This contingency allows you to renegotiate the price paid for the home, ask the sellers to […]