Take a look back at some real estate-related info from the not-so-distant past…wow have things changed!

  1. In 2008, the national average interest rate for a 30-year fixed-rate mortgage loan was 6.03%.  In 1981 it was 16.63%!
  2. Approximately 60% of today’s mortgage applications are approved.  In 2003 it was 79%!
  3. In January 2008 the Texas market had 5.9 months of listing inventory.  In January 1998 inventory was 5.8 months.
  4. Some MLS’s in Texas STILL print MLS books as they did 20 years ago!
  5. Since 1994 the number of active Texas Realtors has more than doubled, from 41,314 to 83,716!
  6. In 1994 there was one active Texas Realtor for every 445 Texans, today there is 1 for every 297!
  7. Motorola introduced the first portable cell phone for consumers in 1983. It cost $8,500 in 2009 dollars and had a talk time of 30 minutes! 
  8. Kodak introduced one of the first widely available digital cameras in 1991. It cost $20,350 in 2009 dollars and had a max of 1.3 megapixels!

Source: Texas Realtor Magazine