So I know you have been hearing horrible news from the national media about the housing market. Well I thought I'd share a few stats to get things in perspective:
Greater Cincinnati: A 25-Year Perspective
Year Homes Sold Total Sales Volume Average Selling Price Average Mortgage Rate
Year Homes Sold Total Sales Volume Average Selling Price Average Mortgage Rate
1982 5,956 $379,800,397 $ 63,768 14.82%
2007 22,256 $3,869,836,160 $173,878 6.42%
Also, in Walter William’s column in the Jan. 28, 2008 issue of the Cincinnati Enquirer, he reported that according to Temple University’s professor of economics William Dunkelberg:
* 96% of all mortgages nationwide are being paid on time.
* 30% of American homeowners have no mortgage.
* Delinquency rates were higher in the 1980s than they are today.
* Only 2% to 3% of all mortgages are in foreclosure
Finally, in Greater Cincinnati from 2002 to 2007 there was an average home value appreciation of 8%. That's right APPRECIATION!
2007 22,256 $3,869,836,160 $173,878 6.42%
Also, in Walter William’s column in the Jan. 28, 2008 issue of the Cincinnati Enquirer, he reported that according to Temple University’s professor of economics William Dunkelberg:
* 96% of all mortgages nationwide are being paid on time.
* 30% of American homeowners have no mortgage.
* Delinquency rates were higher in the 1980s than they are today.
* Only 2% to 3% of all mortgages are in foreclosure
Finally, in Greater Cincinnati from 2002 to 2007 there was an average home value appreciation of 8%. That's right APPRECIATION!
Stop litening to all of the doom and gloom. Start talking to the right real estate agents. The ones who are going well!
