Here are some interesting stats on the national real estate market shared by Windermere’s Chief Economist, Matthew Gardner at our Market Forecast two weeks ago:
- The Case-Shiller Home Price Index, which tracks 20 markets around the country, is still 12% below it’s 2005 peak when adjusted for inflation.
- New Home starts in 2018 are projected to be 900,000. In 2005 there were 1.7 million.
- The average length of time someone lives in a home is now at 8.2 years. In the year 2000 it was 4.2 years.
The homeownership rate now sits at 64% which is 1% below the long-term average. In 2005 it spiked to almost 70%