While the real estate market is going through a transition at the current time, there remain true benefits to home ownership. Did you know …
-
Over the past 30 years, home values have risen more than 6 percent annually
-
On average, the value of a home nearly doubles every 10 years
-
Sixty percent of the average homeowner’s wealth comes from home equity
-
The average homeowner’s net worth is nearly 46 times that of a renter’s
Homeowners benefit from the power of leverage. At an annual appreciation of 5 percent, a 10 percent down payment on a home will return 94 percent after 3 years. After 5 years, the rate of return increases to 225 percent and after 10 years, 623 percent.
There will always be fluctuations in the real estate market through the years; good times, and not so good times. And yet, through the difficult times, owning a home remains the American dream.
National Association of Realtors – Housing Market Facts
