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Residential Real Estate Numerology (wow!)

Source: Fast Company

Thought these were interesting tidbits…

  • There are 1.1 million Realtors in the US, down 17% from 2007.
  • The median annual salary for real estate brokers last year was $57,500, down $1,360 from 2007.
  • The national median price for existing single-family homes in the most recent quarter is $174,100.
  • The metro area with the lowest median home price is Michigan’s Saginaw – Saginaw Township North at $55,700. The highest: Honolulu at $569,500.
  • The average residential sale price in the city of Detroit in July was $11,596, due largely to foreclosed homes that sold for as little as $75.
  • Revenue at Pulte Homes, the nations No. 1 builder, plummeted to $678.6 million in the most recent quarter, down nearly 58% from last year.
  • Four states (AZ, CA, FL, NV) together account for more than HALF of all foreclosures in the US.
  • The state with the highest rate of home ownership is West Virginia, at just over 79%. DC has the nation’s lowest rate at 44.4%, well below the overall national rate: 67.4%.
  • Singapore is believed to have the world’s highest rate of home ownership: 90.1%.
  • The $85 billion that the US government has spent bailing out Fannie Mae and Freddie Mac would be enough to purchase nearly 500,000 homes at the US median price.
  • The Manor (owned by Candy Spelling, Aaron Spelling’s widow) in LA is believed to be the world’s most expensive home currently on the market. Asking price: $150 million. With 30% down and a 30-year fixed mortgage at 5.06%, your monthly payment would be $2.3 million.