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Wednesday, April 11, 2012

Real Estate Market Research, And Then Some

Is buying a home a good investment?  I sell real estate, so I bet you can guess my answer!  Of course it's a good investment, it's actually the best investment.  Today, two out of every three households in the U.S. live in a home they own.  And according to a recent poll, 9 out of 10 homeowners say they would buy their house again.  Their top reason for buying a home "Having a place to raise a family."  Their next reason "building equity rather than paying rent."


Home Appreciation: With the exception of the past few years, homes in Thurston County have appreciated.  The median-priced home is now back to where it was in the summer of 2005.  A home purchased in Thurston County in 2000 and sold today would net about a 4.5 percent annual return, which is respectable for a safe fixed investment.


Tax Advantages: There are tax advantages to owning that help you keep more of what you earn.  In 2008, the federal mortgage interest deduction, a powerful housing incentive unique to our country for more than 80 years, saved the average homeowner in Washington state $3,465 in taxes.


Homeownership today remains a key element of a family's wealth-building.  Maybe even more important to those who aspire to own, it provides a family long-term social enrichment, stability and quality of life - values considered priceless over the years you live in a home.


So as promised, here's the latest in numbers:


$219,700 - Median price existing home sold in WA, 4th quarter 2011.


6.0 - Month's supply of homes on market at year-end 2011.


-1.55% - Change in mortgage rate since peak of market in 2005.


$572.6 - Value of single-family building permits issued in 4th quarter (millions, excludes land).


17.3% - Proportion of underwater mortgages in WA, 3rd quarter 2011


91,080 - Existing home sales in WA, 4th quarter 2011, Seasonally Adjusted Annual Rate.


28.1% - Increase in multifamily building permits 4th quarter 2010 to 4th quarter 2011.


*all data courtesy of WA Realtor Magazine, Spring 2012

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