New Home Sales Nationally

By
Industry Observer with Howard Sumner Consulting

Was just looking at the median price of new homes in the united states, in April of 2006 the median price was $257,000 Freddie mac commitment for a 30 year loan was 6.51% making a 100% financed home with 26% for taxes and insurance cost of $2048.89 per month.

Move forward to 2016 April

the median price was $321,100 Freddie mac commitment for a 30 year loan was 3.60% making a 100% financed home with 26% for taxes and insurance cost of $1839.41 per month or an ownership cost 10.22% below 2006.

Through the end of April 2006 in the united states 385,000 had been sold, through April 2016  a total of 196,000 new homes had be sold or 45.25% fewer homes

In April of 2006 there were 136,140,000 nonfarm employees, move forward to April of 2016 there are 144,592,000 nonfarm employees, an increase of 8,452,000

In  2006 the average yearly earnings were $42,535 for employees, move forward to  2016 the average yearly earnings are approximately$52,904 for employees , an increase of $10,369

 

 

A couple of questions to ponder

 

If it cost less to buy a home and more people are working why are less people buying homes?

 

If it cost less to buy a home and more people are making more money why are less people buying homes?

 

 

Comments (2)

Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR,CNE,CRS,ePro,PSA,RENE,SRS

This is a very informative post. Thank you for sharing and best of luck!

Jun 06, 2016 01:57 AM

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