See chart below. Nationally, Home ownership is great way to build wealth through home equity.
Tobin's note: You would have to save $2,208.33 a month ($26,500 total) to buy same home you saw 12 months ago. 4% annual increase.
Why wait to buy? See statistics below that confirm the $26,500 increase in median home price in past 12 months
See chart below:
WASHINGTON DC (see below) has a lack of homes for sale.
See "gold" and "orange" dials below. SUMMARY: SELLER's Market.
See screen shot below. Homes across the country are selling quickly. Four years ago the average home was on the market for 39 days before the home sold. Today---only 17 average days on the market before a home sells.
See chart below. Sales are increasing from last year.
See chart below. Median sold price is up 4% in past 12 months. Homes in WASHINGTON DC are on the market for only 8 days before being sold. WOW!
See chart below---by Zip Code and Corresponding City
The 23 zip codes/communities in WASHINGTON DC saw a 4% increase in home sale median values in past 12 months, Median price of homes went UP from $660,000 to $686,500.