As a real estate investor it’s crucial that you stay up to date on news and numbers that could affect your business. Ali Safavi Real Estate has gathered news from around the web looking for statistic that you need to know in order to make informed buying decisions. Let us know if you have any that we missed.
Ali Safavi Real Estate Stat 1
In March 2018 the medium home price was $250,000, up 8% since last year. Inventory continues to be the factor for driving up prices. Construction simply cannot keep up.
The dwindling numbers of homes for sale should push prices upward in Los Angeles, San Diego, Boston, Denver, Las Vegas, Dallas, Miami, Seattle, New York, and Houston . It’s all driven by a wildly successful economy and a resistance by local and state governments to support home development in their jurisdictions.
Ali Safavi Real Estate Stat 2
Renter growth outpaced homeowners in 97 of 100 top US cities. The overall growth in renters in 2017 was 23.7 million. In order to keep up with demand we will need 328 units per year now through 2030.
Ali Safavi Real Estate Stat 3
Looking to make a big return on your investment. In 2017 San Francisco returns a 71% profit for home sellers, averaging $365K! Of course, that doesn’t bode will if you are the person buying the house. Profit around the country averaged a very good 44%/
Ali Safavi Real Estate Stat 4
Here are the top cities with the best rental income prospects:
- Wayne County, MI
- Clayton County, Georgia
- Washington County, Miss
- Bibb County, GA
- Baltimore City, MD
- Wyandotte County, KS
- Putnam County, FL
- Fayette County, FL
- Hernando County, FL
- Pasco County, FL
No surprise that on the bottom of this list are cities like San Francisco, Honolulu, Oakland, Los Angeles and New York.