Here are nine facts and figures about the national real estate market, recently compiled by RISMedia.com.
• New construction: This year, the National Association of Home Builders predicts about a 2 percent increase in the number of single-family houses built over last year, which may not keep up with growing consumer demand.
• High-tech spending: According to industry data, North American consumers are expected to spend $63 billion on smart home systems and services by 2022.
• Jewel tones: Ruby red, emerald green, sapphire blue, and amethyst purple are gaining popularity among interior designers and decorators.
• Foreign investors: For six straight years, Chinese buyers have been the top foreign investors in America, according to the National Association of Realtors®. Traditionally, these purchases are for high-end properties, but a growing number of the Chinese middle class is buying more moderately priced homes.
• Smart lawn care: Technology meets Mother Nature with automated lawn mowers, smart sprinkler systems, and apps for gardening tips, watering needs and plant identification.
• Moving statistics: United Van Lines reports that the most out-of-state moves in 2018 occurred among the residents of New Jersey, Illinois and Connecticut.
• Inventory increase: This past December, the number of homes on the market increased by 5 percent, according to Realtor.com®, which is a good sign for the pent-up buyers market.
• Business opportunity: Female entrepreneurs are more likely to start a business in Texas, Ohio or Minnesota, says FitSmallBusiness.com.
• Home values: The difference between the appraised value and the home seller’s expected value was less than one-half of 1 percent at the end of last year, according to the Home Price Perception Index.
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