It’s Just The Facts: January 2019

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Facts You Need To Know About The Housing Market

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  1. Sales price – The median sales price of existing homes sold in Dec 2018 was $253,600, down from an all-time peak median of $273,800. (National Association of Realtors)
  2. US banks repossessed 230k homes in 2018 – down 21% from 291k in 2017, 39% from 379k in 2016 and 48% from 449k in 2015. The peak in repossessions: 1,050,500 in 2010. (Attom Data Solutions)
  3. Super seniors – The number of Americans at least age 75 is projected to double over the next 20 years, rising from 23 million in 2020 to 45 million in 2040. (Census Bureau)
  4. Housing – The average interest rate nationwide on a 30-year fixed-rate mortgage was 4.55% at the end of 2018. The record low national average was 3.31% as of November 2012. (Freddie Mac)
  5. Bailout not needed – No U.S. bank failed in 2018, the first calendar year to achieve that result since 2006. (Federal Deposit Insurance Corporation)

Courtesy of Mortgage Market Guide