Real Estate News & Commentary

14 Real Estate Stats: Pre-Valentine’s Day Edition

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In honor of Valentine's Day, I will up the number of real estate stats this week to 14 from the customary 10 I usually provide:

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  1. 1% – The percentage decrease from December to January of homes that received initial default notices. The number of homes that received initial default notices was also the lowest in 3 years.
  2. 78,133 – Number of homes that reverted back to lenders in January.  Still, that number is a decline of 11% from the previous year
  3. 36,000 – Number of jobs added to the economy in January. Although lower than expected, the tough winter weather factored heavily in those disappointing numbers.
  4. 4.81% – Average rate for a 30-year fixed mortgage loan. It's the 3rd week in a row that rates have risen.
  5. 27% – Percentage of homes nationwide that are underwater.
  6. 70%- Percentage of homes in Phoenix (my hometown) that are underwater.
  7. 36% – Percentage increase in commercial real estate originations in 2010 over the previous year. That translates into $110 billion in commercial and multifamily originations in 2010.
  8. 78% – Percentage of home owners who describe their house purchase as the “best” investment they’ve ever made according to a Trulia survey.
  9. 19 months – The amount of time real estate listings lasted on Google Maps. The short experiment of featuring listings on Google Maps, which dated back to July 2009, was discontinued on February 10, 2011.
  10. 5.6% – Percentage home values fell in 2010. Furthermore, between the 3rd and 4th quarters of 2010, values fell 2.6% and negative equity increased from 23.2% to 27%.
  11. 1.76 million – Estimated number of mortgage loans permanently modified in 2010.  Two-thirds of those modifications were done in-house and not done through the Home Affordable Modification Program implemented by the government.
  12. 85% – Percentage of new home loans backed by the government (Fannie, Freddie, FHA, etc.) in some capacity. With the government’s release of their “white paper” on February 11th, giving options on how to overhaul the U.S. home finance system, this should be a topic of much discussion in the coming months.
  13. 47 – Number of housing markets (out of 74 that are being tracked) where housing affordabability has returned to pre-bubble (1989-2003 average) levels. At the peak in 2005, the ratio of housing prices to household income peaked at 2.3. This past September, the ratio fell to 1.6, matching the lowest in the 35 years the ratio has been tracked.
  14. $116.21 – The average amount that a person will be spent on Valentine’s Day merchandise this year according to the National Retail Federation, which is up 12.8% from last year. Have a Happy Valentine’s Day all.
    Replied over 9 years ago
    Although I generally despise statistics, and you’ve increased your statistical output to 14, it is nearly Valentine’s and I feel obligated to play along. So let’s have some fun: Stat 3: (36,000 jobs added) The civilian non-institutional population *not* in the labor force actually increased from 85,199 in December to 85,518 in January! Stat 5-6: (Underwater Homes) Has the surveyor of home value checked with Stat 8 (“best” investment survey) yet? Stat 8: (78% best investment) What’s a good investment without some ‘sentimental value’? Even if the homeowners try and include their photo-albums with the sale of their home investment, I’m not sure they’re going to get the positive return they were looking for. Stat 9: (Google Map Listings Discontinued) Actually, Google Street View has evolved so drastically, the listing is more than visible on the CBRE sign staked in the lawn and why get repetitive? Anyone seen the naked German guy caught on Google Street View in the trunk of his car? Stat 10: (Home Values Fell) Again, see Stat 8. Stat 13: (Home Value Ratio) Although disappointing at first to see we’ve reached pre-bubble levels, and the knowledge we’re no longer willing to stretch ourselves too thin, just type ‘commercial real estate’ into Google News, and you’ll be pleased to see, the foretold CRE apocalypse is almost unanimously now a vision of prosperity, so if I can humbly accept authority in this matter, we might just get to see another stretch of income/purchase ratios in our lifetime! Stat 14: Happy Valentines Day you Cheapskates Thanks for the article. Brandon
    Doug Lazovick
    Replied over 9 years ago
    Brandon, Thank you for your feedback. Yes, statistics/surveys can often be deceiving and even distorted. However, my focus is to make my readers aware of the various real estate related news/articles of the day. Glad that you don’t take everything you read at face value and form your own opinions. Doug
    Russell Davison
    Replied over 9 years ago
    I am amazed, as a European, that 27% of US homes are under water. That would be like saying that Germany is the new Atlantis if that statistic were to be repeated here in Europe. Are there no planning or zoning laws that make it illegal to build US homes in flood areas?