Kwame Joseph Compass Realtor - Did You Know ?


Total national existing-home sales climbed 1.4% in the first quarter of 2017 to a seasonally adjusted annual rate of 5.62 million, the highest since the first quarter of 2007.

The national median home price jumped 6.9% from the same quarter a year earlier to $232,100, the sharpest price gain in nearly 2 years.

There were roughly 368,000 construction firms operating in the U.S. as of 2014 (the last year with available data) - compared with about 530,000 in 2005. This is the lowest number on record going back to 1977. Fewer builder building fewer homes, more profitably.

The Labor Department reports that there are now 763,000 workers involved in the construction of residential buildings, compared with 996,000 at the end of 2005, about 25% down. Technology has fueled some of this decline.