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Exhaustive Data Highlights Central Role of Housing

by devteam July 12th, 2013 | Share

Data from the 2011 American Housing Survey which was released today</bprovides a bonanza of information for housing advocates and researchers as well as the realrnestate, mortgage, homebuilding industries. Information from the survey covers virtually everything about the housing supply nationally and includes breakdowns for 29 selected metropolitan areas.</p

The survey has been conducted inrnodd-numbered years over the last four decades by the U.S. CensusrnBureau and the Department of Housing and Urban Development (HUD). The most recent survey covered an estimated 132.4 million housingrnunits.</p

Here is a sample of some of therninformation released from the survey which will give an indication ofrnthe level of the data’s detail.</p<ul<li

Of thernnation’s total housing units about 90 million are in single familyrnhouses, attached or detached; 10.7 million, are sited in two to fourrnfamily buildings and 10.3 million are classified as condos orrncooperatives. Slightly more than 5 million units are in large (50rnunits or more) apartment buildings, and 9.05 million arernmanufactured homes or trailers.</p</li</ul<ul<li

The medianrnyear of construction of the 114 million occupied units was 1974. Owner occupied units tend to be slightly newer (median year builtrn1976) than rented units (1972.) About 7.6 million units were builtrnprior to 1920.</p</li<li

The medianrnprice for a home purchased in 2011 was $110,000, an increase of 2.3rnpercent from what was reported in the 2009 survey. The median pricernfor a new home (constructed within the previous 4 years) wasrn$235,000, down 2.1 percent from the earlier survey. </p</li<li

Ofrnapproximately 76 million owner occupied units about one-third arernowned free and clear. Around 43 million have a single mortgage lienrnon the property and 6.5 million have two. </p</li<li

Amongrnowner-occupied units, 46.3 percent had working carbon monoxiderndetectors and 72.5 percent of owner-occupied units had central air.</p</li<li

The medianrnmonthly mortgage payment for homeowners was $1,015 in 2011.</p</li</ul

The survey data includes information onrnbuilding characteristics such as types of heating systems andrnaccessibility features, characteristics of the borrowers, geographicrndata, housing costs, and hundreds of other variables. Data is brokenrnout by vacancy status and whether owner occupied or rented.</p

Kurt Usowki, HUD’s Deputy AssistantrnSecretary for Economic Affairs said of the data, “The last fivernyears remind us how central housing is to each of us personally, tornthe fiscal health of our cities and counties, and the nationalrneconomy. For 40 years, the American Housing Survey has providedrna unique set of data that connects the detailed characteristics ofrnwho is living in homes to the detailed characteristics of the homesrnthemselves. From the American Housing Survey, we can see why peoplernchose to move, how often homes need repairs, and the extent to whichrnhousing costs are outpacing income growth. All this information canrnhelp inform policymaking around continued recovery in the U.S. and inrnmetropolitan areas around the country.”</p

For a complete set of tables from the American Housing Survey,rndefinitions, sample design, and more, seern<http://www.census.gov/housing/ahs/>.

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of MortgageNewsDaily.com is prohibited.

About the Author

devteam

Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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