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US real estate statistics give agents, brokers, investors, and clients data-based insights into the constantly shifting housing market. These are particularly helpful when searching for a house, selling a home, listing or searching for a rental home, or representing clients in the current market. We analyzed the latest local median home sale prices, mortgage rates, homeownership rates, existing home sales, and rent prices to provide the most accurate look at the current real estate market.
Although published in February of 2023, thanks Jealie Dacanay PUBLISHED FEBRUARY 15, 2023
The Midwest has the highest homeownership rate in the United States, at 70.1%. The next biggest region for homeownership is the South, at 67.5%. In the Northeast, 63% of people own homes, and in the West, the rate is 62%.
The top 5 the most competitive city in the US OMAHA, NE is ranked #3
The cost of renting increased by 12.8% in 2022 compared to 2021. The nationwide median rent price rose to $2,053 in August, the highest on record and a 12.3% increase year-over-year. Following the pandemic, rent prices skyrocketed mainly because of a lack of supply and a demand boom, which is just now balancing out.
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