Housing Market Facts
- Over the last 30 years home
values have risen more than 6% annually.
- On average, the value of a
home doubles every 10 years.
- 60 percent of the average
homeowner’s wealth comes from the equity in their home.
- The average homeowner’s net
worth is $171,000. That’s nearly 46 times that of a renter’s,
who has an average net worth of $4,800.
- Homeowners benefit from the
power of leverage. At an annual appreciation rate of 5%, a 10%
down payment on a home will return 94% in 3 years. After 5 years
the rate of return increases to 225% and after 10 years 623%.
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* Source of the above information Harvard
University’s Joint Center For Housing Studies as shown on www.HousingMarketFacts.com