real estate statistics

40 Important statistics data from the real estate industry 2019

It is a widely known fact that statistics are used in all industries since it helps to estimate risks and results more accurately. That is why it is so important in the real estate business too. Analyzing the latest data for the year that is already passing it is possible to make predictions and build plans for the upcoming year. Here are 40 important statistics from the real estate industry which must be considered for 2020.

  • The number of homes sold at the beginning of 2019 is 12% higher than for the same period in 2018.
  • The biggest number of homeowners lives in the Midwest – 68.2%.
  • Only 35% of young people under 35 own homes in the US.
  • The highest percentage of homeowners is among elderly people over 65 years – 78.5%.
  • The biggest number of millennials moved to such cities as Madison, WI and Grand Rapids, MI.
  • Ones of the most competitive real estate markets are in Boston, MA and Lafayette, IN.
  • Luxury home sales have dropped by 1.6% in 2019.
  • The national median price for homes in 2019 is $267,300.
  • The biggest disappointment for 36% of the new homeowners was unexpected repairs required.
  • The lowest competition is in the real estate markets of Miami, Dallas, and Houston.
  • The average time spent from the first visit to the home to closing the deal is 73 days.
  • The half of home buyers have found their new home on the web.
  • 28% of home buyers have found their home with the help of a real estate agent.
  • People aged between 53 and 71 consider virtual tours the most important ones choosing a home.
  • 33% of people who have purchased a home in 2018 did it for the first time in their lives.
  • Homes that were lived-in previously are chosen by 86% of buyers, the rest (14%) prefer news homes.
  • The best day of the week to list a home is Thursday.
  • Only 2% of sellers lowered the original asking price.
  • The median number of days for a property to spend in the listings in 2019 is 40 days.
  • 73% of sellers would rather hire a real estate agent that will shoot a video about their home.
  • Staged homes are sold faster by 25% than empty ones.
  • The highest rent cost in the US is in SF, CA.
  • The biggest increase in the rent cost was in Henderson, NV and Phoenix, AZ – 4.5% and 4.1% respectively.
  • 8% of homeowners wish they hadn’t purchased a home and continued renting.
  • Younger millennials (86%) and older millennials (52%) were first-time buyers.
  • It is predicted that these will be millennials to buy the biggest number of homes in 2020.
  • 45% of these homes to be purchased by millennials will be obtained through mortgages.
  • The largest number of sellers (25%) were people between 39 and 53.
  • In 2018, the biggest number of homes were purchased by married couples – 63%.
  • Twice more single females buy homes than single males.
  • The increase in the median home price since 2018 was 7.2%.
  • The median price for the rented dwelling is $1,650.
  • 58% of people used money from their savings to buy a home.
  • 39% of home buyers used money received from selling another property.
  • Every second renter spends over 30% of his income on rent.
  • 12 million US residents save half of their earnings to be able to buy a home later.
  • One-third of real estate agents plan to spend over $400 per month for marketing.
  • 84.6% of agents take advantage of social media for attracting leads.
  • Agents’ earnings are received from referrals (17%) and from returning clients
  • In 2019, sellers of commercial property have received $1.2 million.