United States yearbook - 1982 (1)

762 Construction and Housing
No. 1367. Recent Home Buyers—General Characteristics and Downpayments:
1976 TO 1981
[Ad of October. Based on a sample survey: subject to sampling variability]
i t e m
Unit 1976 1977 1978 1979 1960 1981
Median price of house purchased................
First-time buyers......................................
Repeal buyers ‘ ......................................
Average monthly mortgage payment............
Percent of Income...................................
Percent buying—
New houses............................................
Existing houses......
Single-family houses
Multiple-family houses
Condominiums.......
For the first time.....
Average age of first-time buyers.................
Average age of repeat buyers \ ........ .........
Source of downpayment for—
First-time buyer.
Entirely from savings and Investments...
Help from relatives..............................
Repeal buyers:1
Entirely from savings and investments...
Entirely from previous home sale.........
Downpayment to sales price
First-time buyers.............
Repeat buyers ....... .
Dollars..... 43,340 49,320 54,750 58,100 60,714 78.220
Dollars..... 37,670 43,160 46,700 50,600 61,450 63,180
Dollars..... 50,090 58,730 59,180 64,600 75,750 82220
Dollars.... 329 361 384 449 599 694
Percent..... 24.0 25.0 26.0 282 32.4 35.5
Percent.... 15.1 12.8 14.4 17.8 22.4 25.2
Percent..... 84.9 87.2 85.6 822 77.6 74.8
Percent_ 88.8 902 86.6 87.5 82.4 73.3
Percent..... 4.8 62 7.6 5.3 5.5 6.9
Percent..... 6.4 3.6 5.6 6.6 12.1 13.4
Percent...., 44.8 48.1 36.7 36.6 32.9 39.4
Years..... . 28.1 262 28.3 28.4 28.3 28.4
Years ..... 35.9 37.9 35.5 34.7 36.4 33.4
Percent.... 70.9 75.6 73.5 43.8 51.1 63.8
Percent.... 20.4 14.3 8.7 32.6 32.6 17.0
Percent.... 212 25.8 192 14.8 27.7 22.6
Percent.... 45.5 43.9 56.6 55.8 39.7 46.2
Percent.... 25.2 28.1 21.4 24.9 28.0 24.1
Percent.... 18.0 192 12.4 17.6 20.5 19.4
Percent.... 30.8 35.0 27.6 29.0 32.7 27.1
'Buyers who previously owned a home.
Source: Chicago Title Insurance Company, Chicago, Illinois, T h e G u a ra n to r, bimonthly. (Copyright.)
No. 1368. M o rtg a g e S ta tu s of Nonfarm Dwelling Units: 1940 to i960
[In millions, except percent. Prior to I960, excludes Alaska and Hawaii. For 1940 and 1950, mortgage data are for owneroccupied
dwelling units in 1- to 4-dwelling unit structures without business; for I960, properties with 1- to 4-dwelling units: for
1971-1979, properties with 1 housing unit; for 1980, specified owner-occupied housing units. See also H is to ric a l S ta tis tic s ,
C o lo n ia l T im e s to 1 97 0, series N 302-307]
ITEM 1940 1 9 5 0 1060 1971 1974 1 0 7 5 1976 1977 1978 1979 1 9 8 0
Owner occupied units 1 1 .4 19.8 27.9 33.2 362 37.2 37.9 3B.8 40.1 41.3 39.5
Reporting mortgage stetuB 1 0 .6 17.8 27.9 33.2 36.2 372 37.9 38.8 40.1 41.3 39.5
Mortgaged........... 4.8 7.8 15.8 20.1 23.0 23.4 24.1 24.9 25.6 26.4 25.5
Percent............ 45.3 44,0 56.8 60.6 63.5 63.0 63.5 64.2 63.9 64.0 64.7
Not mortgaged.... 5.8 10.0 12.0 13.1 132 13.8 13.8 13.9 14.5 14.9 14,0
Source: U.S. Bureau of the Census, C e n s u s o f H o u s in g : 7950, vol. i; 1 9 6 0 and 1 9 7 0 , vol. V; and C u rre n t H o u s in g Reports, aeries
H-150, Annual Housing Survey, part C, F in a n c ia l C h a ra c te ris tic s o f th e H o u s in g In v e n to ry f o r th e U n ite d S ta te s a n d R e g io n s , and
1 9 8 0 C e n s u s o f P o p u la tio n a n d H o u sin g , S u p p le m e n ta ry R e p o rt, series PHC 80-SI-1.
No. 1369. Volume of Long-Term Mortgage Loans Originated, by T ype of Property, 1970 to
1981, and by Lender, 1981
[In billions of dollars. Covers credit extended in primary mortgage markets for financing real estate acquisitions]
1 9 8 1 , BY LENDER
TYPE O F PROPERTY 19 70 1 9 7 5 1 9 7 7 1 9 7 8 1 9 7 9 1 9 8 0
Total 1
Savings
and
loan
Commercial
banks
Mortgage
cos.
Fed.
credit
agencies
Mutual
savings
L o a n s , t o t a l .................................... 59,8 1 2 0 .7 2 2 9 .2 2 5 7 .3 2 5 8 .2 1 9 7 .2 158.1 4 7 .9 3 9 .2 2 8 .4 2 1 .0 5.3
1 - 4 unit family home.................. 3 5 .6 7 7 .9 1 6 2 .0 1 8 5 .0 1 8 6 .6 1 3 3 .7 9 8 .3 4 2 .0 2 1 .7 2 4 .0 4 .5 4 .0
New units............................... 12 .6 2 4 .6 4 6 .4 5 8 .0 6 0 .5 49.1 3 7 .3 1 7 .3 6 .6 1 0 .0 2.1 .9
Existing units........................... 2 3 .0 5 3 .3 1 1 5 .6 1 2 7 .0 126.1 8 4 .6 6 1 .0 2 4 .7 1 5 .3 1 4 .0 2 .4 3.1
Multifamily residential.................. 8.8 1 0 .7 15 .8 1 0 .5 16 .8 12 .5 1 2 .0 2 .3 1 .5 2 .0 3 2 .6
New uriits...... .......................... 7 .0 5 .8 5 .6 6 .9 8 .4 8 .6 8 .0 .9 .4 1 .6 3 .1 2
Existing unite.......................... 1 .8 4 .9 102 6 .6 7 .4 3 .9 4 .0 1 .4 1.1 .4 .1 .4
Non-residentlal........................... 12 .5 2 4 .2 39.1 4 2 .7 4 1 .0 3 5 .9 3 2 .5 3 .5 1 4 .5 2 .4 .9 .7
Farm properties............ ............ 3 .0 7 .9 1 2 .3 13.1 1 4 .8 1 5 .0 1 5 .4 .1 1 .5 - 1 2 .4 -
- Represents zero. 1Includes life insurance companies and other lenders not shown separately.
Source: U.S. Dept, of Housing and Urban Development, S u rv e y o f M o rtg a g e L e n d in g A c tiv ity , 1 9 7 0 -1 9 7 9 , and monthly and
quarterly press releases based on the Survey of Mortgage Lending Activity.