The number of householders in the United States dropped to 64% in 2014 from a high of 69.2% in 2004 and 67.2% in 2009. These figures refer to the amount of homes with residing owners, which hit 40.02 million units in 2013.
Study the data and investment plans to get ahead in the realty market.
More Info on Residential Homes
The number of houses in the country was around 106.28 million in 1990. The number went up to about 133.27 million in 2014.
Roughly 1.5 million houses were for sale in 2005. The amount climbed to about 2 million units in 2010 before dropping to around 1.6 million in 2012. The average price of sold houses reached $297,000 in 2005, while the vacant units normally cost $266,000 in 2007. The market saw a decline in 2011 with the average price being $214,000.
The changes in median house prices should tell you one thing: you earn or lose money in real estate investment fast. To guarantee that you earn rather than lose, buy a house and keep it until its value doubles or triples. This strategy is applicable when you buy a property that you will put up for rent.
For instance, when you invest in Napa Valley realty by buying a house for $50,000 with an expected annual cash flow of $10,000 and a yearly appreciation increase of 5%, you get back $254,000 in 15 years.
Another option is to buy a house, renovate it, and sell it again to earn more. For example, if you used $50,000 to restore a home worth $200,000 and wait a few weeks after renovations, you can sell the property for $280,000. That earns you $30,000. Easy, right?
There are risks associated with investments, but there’s really no shortage of people looking for a house to buy. Take advantage of that and give them a good deal so both of you win.