I just read an interesting press release by the National Association of Realtors. Here is the link: http://www.realtor.org/press_room/news_releases/2011/11/home_buyer_and_seller?cid=WR11172011:34813&ed_rid=580659
The highlights include...
Seventy-eight percent of recent home buyers said their home is a good investment, and 45 percent believe it’s better than stocks. According to survey results, most buyers believe in the long-term value of home ownership.
The study shows the median age of first-time buyers was 31 and the median income was $62,400, up from $59,900 in the 2010 study. The typical first-time buyer purchased a 1,570 square foot home costing $155,000; the estimated median monthly mortgage principal and interest payment was $794. The typical repeat buyer was 53 years old and earned $96,600, notably higher than the $87,000 median reported in the 2010 profile. Repeat buyers purchased a median 2,100 square foot home costing $219,500, with an estimated median payment of $1,006.
Posted by Bradford Miller Law, P.C.
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