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Real Estate Industry Facts for Cape Cod (MA) and Beyond

By Allison Lahey

Real Estate Agent with Cape Cod MA Homes, Second Homes, Seaside Homes

April 22, 2011 03:31 AM

Here are some interesting facts about the Real Estate industry that were posted by the Massachusetts Associations of Realtors today:

Did You Know...

Mortgage rates are at historic lows, remaining at or below 6%, and well below their all-time highs of over 18% in the 1980s.
The rate of return on a housing investment dramatically increases the longer it is held (Harvard University Joint Center of Housing Studies).
The median net wealth of a renter household is $4,800, while the median net wealth of a homeowner household is $171,700. (Federal Reserve Survey of Consumer Finances)

Home buyers

What you should know about the market:

"All Real Estate is Local"

Market conditions being reported nationally do not necessarily reflect the real estate market in your local community, neighborhood or street. Speak to a REALTOR® who truly knows your local market.

Building Wealth

Owning a home not only provides you with shelter, but it is one of the best ways to build wealth. In addition to the tax benefits, real estate has delivered the most consistent positive return over any long-term investment during the last 40 years.

Timing

The right time to buy (or sell) is when it is right for you. Trying to time the market is extremely difficult as the only way to know the market has hit bottom is when prices are on their way back up.

***It's always good to remind ourselves of these facts. We are in a great industry and now is a terrific time to buy!!!