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