Sometimes you need just the facts to get through the week and over the mid-week hump.
Here are 15 industry stats that you need to know:
- A majority of originators expect the market to grow in 2020, with 16% expecting total market originations to increase 5% or more. Forty-two percent expect their own originations to increase by 5% or more. – Mortgage Bankers Association
- The average home seller realized a home price gain of $65,500 on the typical sale during 2019 – the highest median gain since 2006. – ATTOM Data Solutions
- Tax expenditures account for $1.4 trillion in government spending every year.
- 8.21 years was the average length of ownership for 2019 fourth-quarter sellers. It’s a record-high, based on data going back to 2000. – ATTOM Data Solutions
- In 69% of areas with a population of at least 500,000 or more, renting is more affordable than buying. In 84% of the metros where the population exceeds 1 million, such as Los Angeles County; Cook County (Chicago); and Harris County (Houston), renting is more affordable than buying. – ATTOM Data Solutions
- Millennials are waiting to buy homes due to sky-high student debt burdens. In 1981, the median age of all homebuyers was 31, and 2019 it was 47. Yahoo Finance
- In 2019, 12.3% of millennial renters said they plan to “always rent,” up from 10.7% just one year ago. – Apartment List
- Commercial and multifamily mortgage bankers are expected to close a record $683 billion of loans backed by income-producing properties in 2020, a 9% increase from 2019’s anticipated record volume of $628 billion. – Mortgage Bankers Association
- The homeownership rate for black Americans fell to 40.6%, the lowest level for black households since the 1950 decennial Census when it was 34.5%.- U.S. Census Bureau
- Homeownership rate for Hispanics has increased more during the past several years than any race or ethnic group, including whites. The rate, which hit a 50-year low in 2015, has risen 3.3% since then. – U.S. Census Bureau
- While Hispanics make up 18% of the U.S. population, the group accounted for nearly 63% of new U.S. homeowner gains over the past decade. – National Association of Hispanic Real Estate Professionals
- Seniors are expected to vacate roughly 21 million homes over the next two decades. That’s more than the amount of new properties sold during the previous two-decade period that ended with a housing boom. – Zillow
- One in eight owner-occupied homes in the U.S., or roughly nine million residences, are set to hit the market from 2017 through 2027 as the baby boomers start to die in larger numbers. – Zillow
- In 2018, venture capital-backed fintech companies raised more than $39 billion across 1,707 deals. CB Insights
- Total corporate venture capital deals by banks and other financial services firms have surged 500% from 2014 through the third quarter of 2019. CB Insights
