Home prices are on the rise

WASHINGTON — Homeowners in the U.S. paid a median price of $110,000 for their homes, according to a 2011 American Housing Survey profile released recently.

This is an increase of 2.3 percent from the $107,500 reported in the 2009 survey.

The median purchase price of homes constructed in the past four years was higher at $235,000, down 2.1 percent from the $240,000 reported for new construction in 2009.

National data are collected every odd-numbered year and metropolitan area data are collected on a rotating basis.

Some highlights for the U.S. include:

Physical characteristics:

  • The median year occupied homes were built in the U.S. was 1974.
  • Nationally, piped gas was the most prevalent home heating source, used by 50.4 percent of occupied homes. Electricity was used by 35.3 percent.
  • Among owner-occupied homes in the U.S., 46.3 percent had working carbon monoxide detectors.
  • Among all U.S. homes, 72.5 percent of owner-occupied units had central air.
  • Financial characteristics:
  • Median monthly expenditures for homeowners in the U.S. totaled $151 for real estate taxes, $121 for electricity and $58 for property insurance.
  • Among U.S. owner-occupied homes, 65.4 percent had a regular and/or home equity mortgage and 23.4 percent had a refinanced primary mortgage.
  • The median monthly mortgage payment for homeowners was $1,015 in 2011.

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