Real Estate News & Commentary

Real Estate by the Numbers: Week of March 19 – March 25

77 Articles Written

A quick rundown of the important real estate news from the week of March 19 – March 25, by the numbers:

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free

250,000 – Number of new homes sales in February on an annual basis. If the February pace is realized at the end of the year, it would be the least amount of new homes that Americans have bought since the government began tracking the figure a half a century ago. 323,000 new homes were bought last year, which was the worst year on record.

$202,000 – Current median new home price, the lowest since 2003.

9.6% – Percentage drop in existing homes sales, month-over-month. February’s 4.88 million unit pace is a drop from January’s 5.36 million unit pace. The previous three months all saw percentage gains in existing home sales.

18% – Percentage of Florida homes currently vacant. In total, there are 1.6 million vacant homes, a 63% increase in vacancy over the past decade.

23.6% – Rental vacancy rate in Orlando,Fl. Along with a 4.3% single-family vacancy rate, Orlando topped Forbes list of “America’s Emptiest Cities.” Las Vegas took second place, with rental vacancy rate of 13.5% and single-family vacancy rate of 5.5%.

17% – Approximate percentage of U.S. residents that are Hispanic. “The U.S. Latino population drove more than half of the country’s population growth between 2000-2010.”

2.7% – Percentage drop in mortgage applications for the week ending March 18. 66.4% of the total applications were refinances.

4.81% – Average rate on a 30-year fixed mortgage loan. The rate is up from 4.76% the previous week.

29.1% – Percentage drop in Population in New Orleans since 2000, the biggest percentage loss for any city in the U.S. over the past decade. Detroit is second on that list, with a 25% drop in population. No city has lost more people over the last decade than Chicago, had over 200,000 people leave the city since 2000.

    Bill Arce
    Replied over 8 years ago
    Si es verdad…The Hispanic population in the United States grew by 43% in the last decade, surpassing 50 million and accounting for about 1 out of 6 Americans, the Census Bureau reported Thursday. But the real question for us real estate professional is, How this boom is going to impact our industry? Well, there is two answers to that, 1st, Latinos could be the next driving force in the real estate market or nothing will really happen, why? if we continue making more difficult for Latinos accessing affordable mortgage products, not offering enough real estate education/counseling and the lack of trusted advisors, it will be impossible to jump-start the next force in real estate… Bill Arce
    Doug Lazovick
    Replied over 8 years ago
    Bill, Thank you for the feedback. Doug
    Replied over 8 years ago
    The extreme vacancies and the disastrous new home sales stats are no coincidence. Still absolutely crazy numbers, though.