Richards Real Estate American Property Rehab and Investing Fri, 16 Jan 2015 23:04:13 +0000 en-US hourly 1 Real Estate in 2015 Fri, 16 Jan 2015 18:04:13 +0000 The real estate market is constantly in flux. For those of us interested in the current trends in real estate, here are some states from some industry experts:

Today’s Real Estate Market

  • There are roughly 133,026,000 housing units in the United States. The combined value of these homes is around $25.7 trillion. (Source
  • Housing units in the USA are worth more than the combined GDP of the entire European Union ($18.1 trillion). (Source
  • There were 5.09 million home sales in 2013, up 9.1% from 2012. (Source
  • Home prices nationwide are expected to increase by 4% in 2014. (Source
  • Mortgage rates remain low: mortgage payments currently consume 15.6% of monthly family income on average, down from 23.5% in 2006. (Source

The Real Estate Industry at a Glance

  • The real estate industry employs over 2 million people, including more than 430,000 agents and brokers. That’s about 1.4% of the working civilian population of the U.S. (Source
  • 84% of real estate firms are independent, non-franchised companies, 13% are independent franchises and 3% are corporate subsidiaries. (Source
  • 4 out of 5 residential real estate brokerage firms have a single office. (Source

Real Estate Housing Supply

  • 2014 began with around 1.86 million available homes. (Source
  • Housing at less than a 5 month supply at the current sales pace. A normal market has about a 6–7 month supply of homes available. (Source
  • According to the National Association of Homebuilders, new construction starts will increase by 25% in 2014. (Source

Real Estate Housing Demand

  • Total employment in the U.S. is projected to increase between 2012 and 2022, by 15.6 million, or about 10.8%. (Source
  • From January-August 2013, foreign investors acquired $22.8 billion in U.S. real estate. (Source
  • At the start of 2014, there were 2.3 million housing units in shadow inventory, down from 2.9 million units in December 2012. (Source
  • 13.5% of homes in the United States were vacant in the last quarter of 2013. That’s almost 18 million vacant homes. (Source
  • 21% of all homes in foreclosure are vacant. (Source
  • In 2013, nearly 37% of the country’s negative equity came from just five states–Nevada, Florida, Arizona, Ohio and Illinois. (Source

Real Estate Search

  • 92% of people now use the Internet in their home search. (Source
  • Between 2009 and 2013, real estate-related Google searches increased by 253%. (Source
  • 69% of home shoppers who take action on a real estate website begin by typing a local term into a search engine. (Source
  • On weekends, 59% of page views on real estate websites come from smartphones and tablets. (Source

Real Estate Advertising

  • Zillow and Trulia will spend $65 million and $45 million, respectively, on national consumer marketing campaigns in 2014. (Source
  • Total real estate ad spending totaled $27.2 billion in 2013 (up 9.7% over 2012). (Source
  • The real estate industry now devotes 56% of its overall ad spend to online advertising. (Source
  • Only 25% of real estate advertising going to print media like newspapers and direct mail in 2013. (Source
  • In 2014, online ad spending in the real estate industry is set to reach nearly $16 billion, a 210% increase since 2009. (Source)

Information from:

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