Just like any other
consumer product the more something is in demand the better the market
for it. The housing industry is no exception to the rule.
Everyone needs a place to live so this, in turn, affects every aspect
of the housing market from real estate to lending to title. The data
collected
regarding if and when people are moving can interpret if the
housing market is thriving.
There are a variety of sources and people interpreting the data collected. This can hinder a potential home buyer’s research when it comes to the housing market. There are many “spin doctors” who want to influence the public and might be steering them in the wrong direction. When it comes to research, there are many ways to discern what is fact and what is fiction.
Go to the facts, remember for the most part numbers don’t lie. The Census Bureau is a great neutral source. The Census Bureau is supervised by the Economics and Statistics Administration within the Department of Commerce.
The history behind the Census Bureau is interesting within itself. Founded in 1790 when Secretary of
State Thomas Jefferson appointed U.S.
marshals throughout the country to collect data on the 3.9 million
residents. For the next 150 years, the six question census added many
categories that included manufacturing, agricultural, mining, fisheries,
native language and others. In 1940, data on housing was added (other
than the names of those living in households) and the real estate
industry began using the data to predict the health of the housing
market.
The homeownership rate is an important statistic to focus on as a baseline to research. An interesting fact according to the census, is that the homeownership rate has held steadily for approximately 60 years. According to housingwire.com, the ” rate is calculated on the proportion of households that are owner-occupied and has continuously held strong in the 60-70% range throughout the years.”
Throughout the years the highest at 70% was in 2005 and the lowest at 62% was during the recession.
Statistics in migration patterns show that 43% of people move due to housing-related issues, 27% move because of family-related issues, 18.5% move because of employment issues and 10.6% move for other various reasons. The Southern Region of the country has seen the largest migration pattern.
Click Here For the Source of the Information.
There are a variety of sources and people interpreting the data collected. This can hinder a potential home buyer’s research when it comes to the housing market. There are many “spin doctors” who want to influence the public and might be steering them in the wrong direction. When it comes to research, there are many ways to discern what is fact and what is fiction.
Go to the facts, remember for the most part numbers don’t lie. The Census Bureau is a great neutral source. The Census Bureau is supervised by the Economics and Statistics Administration within the Department of Commerce.
The history behind the Census Bureau is interesting within itself. Founded in 1790 when Secretary of
The homeownership rate is an important statistic to focus on as a baseline to research. An interesting fact according to the census, is that the homeownership rate has held steadily for approximately 60 years. According to housingwire.com, the ” rate is calculated on the proportion of households that are owner-occupied and has continuously held strong in the 60-70% range throughout the years.”
Throughout the years the highest at 70% was in 2005 and the lowest at 62% was during the recession.
Statistics in migration patterns show that 43% of people move due to housing-related issues, 27% move because of family-related issues, 18.5% move because of employment issues and 10.6% move for other various reasons. The Southern Region of the country has seen the largest migration pattern.
Click Here For the Source of the Information.
No comments:
Post a Comment