Even today, with all the mortage and real estate problems that exist, there is some interesting  information about property ownership on the national horizon.

Recently, Dan Hultgren and I created a market update report for our clients.  It covers national and local real estate information, as well as some general information regarding our client's neighborhoods. We are sharing this report with people in our database as time permits. 

Meanwhile, we came across some interesting national statistics that I thought I would share. 

Di you know that the average homeowners net worth has been 31 to 46 times the net worth of the average renter for the past 12 years? 

The national home ownership rate is nearly 67%. Nationally, single family home starts are forecast to increase 21% in 2011.  Locally, we are seeing some new homes being built - last year and this year - with about 3 local new home developments presently open and selling.  Median home prices in the west were $204,000.  In the Merced area, the median home price was $107,500 dollars up 8 % over February of last year.

Nationally, in December of 2010 we had a 8.1 month supply of homes - in Merced we have been under 3 months for most of the past year (in December, it was about 3.6 months).

Money magazine, in an article on cities that have overcorrected on pricing said Merced was the most undervalued city in the nation (31% undervalued).

Many first time homebuyers are taking advantage of the low prices and low interest rates to buy homes.  50% of homes nationally were first time homebuyers.  It's exciting helping these people but their first home, but it is also a great time for existing homeowners to get the home of their dreams.

Added: Friday, March 25, 2011 1:45:39 PM