By the Numbers

    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:

    1. 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
    2. 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
    3. Tax expenditures account for $1.4 trillion in government spending every year. 
    4. 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
    5. 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
    6. 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
    7. In 2019, 12.3% of millennial renters said they plan to “always rent,” up from 10.7% just one year ago. – Apartment List
    8. 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
    9. 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
    10. 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
    11. 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
    12. 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
    13. 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
    14. In 2018, venture capital-backed fintech companies raised more than $39 billion across 1,707 deals. CB Insights
    15. 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