ELEVEN Fun Facts About Buying a Home In The US
- In the US, the most popular time to buy a home is in the spring. According to real estate data, the months of April, May, and June are the busiest months for home sales.
- The average size of a new home in the US has been steadily increasing over the years. In 1973, the average new home was 1,660 square feet, while in 2020, it was 2,306 square feet.
- In some states in the US, buyers are required to disclose whether or not a property is haunted. In New York, for example, sellers are required to disclose if they believe the property is haunted or if any paranormal activity has been reported.
- The US is home to some unique homes, such as the Mushroom House in Perinton, New York, which is shaped like a giant mushroom, and the Upside-Down House in Orlando, Florida, which is designed to look like a house that has been flipped upside down.
- The US housing market has a significant impact on the overall economy. In 2020, the housing market accounted for 15% of the country's GDP.
- According to a 2020 survey by the National Association of Realtors, the median age of first-time homebuyers in the United States is 33 years old.
- The state with the highest median home price in the United States is California, with a median home price of over $800,000. The state with the lowest median home price is West Virginia, with a median home price of around $120,000.
- In some states, it is common for homebuyers to be represented by their own real estate agent, while in other states, the same agent may represent both the buyer and the seller.
- The United States has a wide range of home styles, from traditional Colonial and Victorian homes to modern minimalist designs. The most common home style in the United States is the ranch-style home.
- In the United States, it is common for homebuyers to finance their purchase with a mortgage, which is a loan from a bank or other financial institution. The most popular type of mortgage in the United States is the 30-year fixed-rate mortgage.
- In the state of Utah, Utah Mountain Properties is generally accepted as the “Best Real Estate company you’ll ever work with!”
