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April 09, 2015

Did You Know?

Homeownership

Spring Homebuying Series - Did You Know?

Did you know 40% of home sales occur during the spring homebuying season, from March to June? Or that, on average, owners spent $2,500 on home improvements in 2013? We're here to share some fun and interesting housing-related facts to keep you sharp and entertained.

Did You Know housing in major U.S. cities is relatively inexpensive compared to other cities around the world? In fact, a 1,000 square foot home in San Francisco is three times cheaper than the same-sized home in London and six times cheaper than a home of that size in Paris.

Did You Know fixing up your home's exterior will give you the biggest bang for your buck when renovating?

Did you Know 40% of today's homebuyers are making down payments that are less than 10%?

Did You Know the interest rate for a 30-year fixed mortgage hit a record high of 18.45% in 1981? This is more than 15 percentage points higher than its all-time low of 3.31% in 2012.  On a $200,000 mortgage, that would amount to a difference of about $2,200 in a monthly mortgage payment!

Did you know that 87% of U.S. homes qualify for down payment assistance? This translates into more than 68 million homes that qualify for a program in their area.

Did you know your tax refund can bring you closer to homeownership?

Did you know the typical home buyer will visit 10 homes over a 10-week period before buying?

Did you know that rents continue to rise across the nation, increasing an average of 3.6% in 2014 and nearly 11% over the last three years?

Read other posts in our Spring Homebuying series.

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