8 Startling Facts About the US Housing Market

8 Facts About the US Housing Market created by: My Desert Realty Palm Springs Address: Palm Springs, CA Phone: (760) 348-8749 Website: www.mdesertreality.com In 2011 Zillow has announced that the average price of a home in the U.S. is about 8% lower than it was a year ago. 08 According to Zillow, 28.4% of all single family homes with a mortgage in the United States are now underwater. (04 In September 2008, 33% of Americans knew someone who had been foreclosed upon or who was facing the threat of foreclosure. Today that number has risen to 48 percent. (07 During the first quarter of 2011, less new homes were sold in the U.S. than in any three month period ever recorded. (03 (06 In February 2011, U.S. housing starts experienced their largest decline in 27 years. In 1996, 89% of Americans believed that it was better to own a home than to rent one. Today that number has fallen to 63 percent. (02 According to a recent census report, 13% of all homes in the United States are currently sitting empty. 05 U.S. home values have fallen an astounding 6.3 trillion dollars since the housing crisis first began. (01