With the effective 15-year fixed mortgage rate at 6.91% for the week of May 9, 2026, housing costs and borrowing conditions are shifting again, and the downstream effects show up across repair spending, pricing, and credit risk. At the same time, 27% of U.S. homes sold below list price in April 2024 while 22.3% of listings were still waiting after 30 days, a gap that raises questions about what buyers and sellers are really facing. This post pulls together the household, market, insurance, and risk indicators that help explain those contrasts.
Key Takeaways
- $600 per household is average annual U.S. spending on home repairs and improvements (2022).
- $0.23 trillion is U.S. residential construction investment in 2023 (annual).
- 2.9 million home price changes were tracked across markets in 2023 by Zillow (annual count).
- U.S. households with cost burden (spending 30%+ of income on housing) were 21.4% in 2022.
- U.S. residential electricity consumption was 1,364 terawatt-hours in 2023.
- Homeowners insurance premiums increased by 19% year over year in 2023 (U.S. average).
- 6.6 million U.S. homes were in foreclosure as of Q1 2024 (cumulative serious delinquency and foreclosure proxy).
- 27% of U.S. homes sold below list price in April 2024.
- 22.3% of U.S. residential listings were still on the market after 30 days in 2024 (Redfin measure).
- 25% of U.S. single-family homes are located in flood zones (First Street Foundation estimate).
- 7.3 million households in the U.S. are in wildfire hazard areas (First Street Foundation estimate for homes).
- The U.S. had 18 weather and climate disaster events with losses exceeding $1 billion in 2023.
- 6.91% was the U.S. effective 15-year fixed mortgage rate for the week of May 9, 2026 (primary market rate)—a key benchmark for refinancing and shorter-term borrowing.
- 3.2% of all U.S. households had a mortgage and were delinquent by 90+ days (90+ days delinquency rate) in Q1 2024 (nationwide) — reflects severe delinquency prevalence.
- $1.0 trillion in U.S. mortgage servicing rights (MSRs) is estimated outstanding (as part of mortgage servicing assets) in industry valuation reports (latest available)—indicates the size of servicing economics tied to residential mortgages.
With repair costs rising and affordability strained, housing remains debt heavy while listings stay tight.
Related reading
Market Size
1$600 per household is average annual U.S. spending on home repairs and improvements (2022).[1]
Directional
2$0.23 trillion is U.S. residential construction investment in 2023 (annual).[2]
Verified
32.9 million home price changes were tracked across markets in 2023 by Zillow (annual count).[3]
Verified
Market Size Interpretation
From the market size perspective, Americans spent about $600 per household annually on home repairs and improvements in 2022 while U.S. residential construction investment totaled $0.23 trillion in 2023, and with Zillow tracking 2.9 million home price changes that year, the housing market is both sizable and highly dynamic.
More related reading
Affordability & Costs
1U.S. households with cost burden (spending 30%+ of income on housing) were 21.4% in 2022.[4]
Verified
2U.S. residential electricity consumption was 1,364 terawatt-hours in 2023.[5]
Directional
3Homeowners insurance premiums increased by 19% year over year in 2023 (U.S. average).[6]
Single source
4U.S. house price-to-income ratio averaged 4.0 in 2023 (OECD metric).[7]
Single source
5The U.S. median homeowners insurance premium was $1,428 in 2023.[8]
Directional
6The U.S. average annual cost of homeowners maintenance is about $1,200-$2,000 per household (2022 estimate).[9]
Single source
Affordability & Costs Interpretation
In 2022, 21.4% of U.S. households were spending 30% or more of their income on housing while rising insurance and upkeep costs kept affordability under pressure in 2023, with premiums up 19% to a median $1,428 and annual maintenance running about $1,200 to $2,000 per household.
More related reading
Demand Drivers
16.6 million U.S. homes were in foreclosure as of Q1 2024 (cumulative serious delinquency and foreclosure proxy).[10]
Verified
227% of U.S. homes sold below list price in April 2024.[11]
Verified
322.3% of U.S. residential listings were still on the market after 30 days in 2024 (Redfin measure).[12]
Verified
Demand Drivers Interpretation
Demand for residential property is being pressured by affordability and supply friction, with 6.6 million U.S. homes in foreclosure by Q1 2024 and still 22.3% of listings sitting on the market after 30 days in 2024, while 27% of sales in April 2024 went below list price.
Risk & Resilience
125% of U.S. single-family homes are located in flood zones (First Street Foundation estimate).[13]
Directional
27.3 million households in the U.S. are in wildfire hazard areas (First Street Foundation estimate for homes).[14]
Verified
3The U.S. had 18 weather and climate disaster events with losses exceeding $1 billion in 2023.[15]
Verified
4In 2023, FEMA declared 2,557 disaster declarations (including for residential impacts).[16]
Verified
51.6 million residential properties in the U.S. were insured with flood coverage via NFIP in 2023 (policy count).[17]
Verified
6The 2023 FEMA NFIP policy count was 4.7 million total flood insurance policies (public data).[18]
Verified
7U.S. homes with mold or mildew problems were 6.2% in 2022 (American Housing Survey).[19]
Verified
Risk & Resilience Interpretation
Risk and resilience challenges are already widespread for U.S. homes, with 25% in flood zones and 7.3 million households in wildfire hazard areas, while 2023 saw 18 billion dollar weather and climate disasters and FEMA issued 2,557 disaster declarations.
More related reading
Housing Finance
16.91% was the U.S. effective 15-year fixed mortgage rate for the week of May 9, 2026 (primary market rate)—a key benchmark for refinancing and shorter-term borrowing.[20]
Verified
23.2% of all U.S. households had a mortgage and were delinquent by 90+ days (90+ days delinquency rate) in Q1 2024 (nationwide) — reflects severe delinquency prevalence.[21]
Verified
3$1.0 trillion in U.S. mortgage servicing rights (MSRs) is estimated outstanding (as part of mortgage servicing assets) in industry valuation reports (latest available)—indicates the size of servicing economics tied to residential mortgages.[22]
Verified
Housing Finance Interpretation
For Housing Finance, the 6.91% U.S. effective 15-year fixed mortgage rate as of May 9, 2026 underscores how refinancing and shorter-term borrowing remain costly, even as delinquency stays elevated with 3.2% of mortgage-holding households in 90+ days delinquency in Q1 2024.
More related reading
Housing Wealth
1$9.2 trillion U.S. residential real estate is reported as household debt’s underlying collateral category (household balance sheet series) for the latest quarter available—housing dominates household asset portfolios.[23]
Verified
2$1.0 trillion U.S. home equity lines of credit (HELOCs) outstanding is reported in the Federal Reserve’s household debt series (latest available)—measures revolving credit secured by homes.[24]
Single source
Housing Wealth Interpretation
With $9.2 trillion in U.S. residential real estate serving as the main collateral behind household debt, housing is the core of Housing Wealth, while the additional $1.0 trillion in outstanding HELOCs shows that a large share of that housing wealth is actively used as revolving credit.
How We Rate Confidence
Models
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Single source
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Directional
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
Verified
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Models
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Marcus Engström. (2026, February 13). Residential Property Statistics. Gitnux. https://gitnux.org/residential-property-statistics
MLA
Marcus Engström. "Residential Property Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/residential-property-statistics.
Chicago
Marcus Engström. 2026. "Residential Property Statistics." Gitnux. https://gitnux.org/residential-property-statistics.
References
- 1jchs.harvard.edu/research/publications/americas-housing-2024
- 4jchs.harvard.edu/sites/default/files/2024-10/State-of-Housing-in-America-2024-Full-Report.pdf
- 9jchs.harvard.edu/sites/default/files/2023-12/Harvard%20JCHS%20Maintenance%20and%20Repairs%20Brief.pdf
- 2fred.stlouisfed.org/series/GDPA
- 3zillow.com/research/data/
- 5eia.gov/electricity/sales-revenue/annual/
- 6naic.org/documents/industry_report_homeowners_rates.pdf
- 7data.oecd.org/housing/price-to-income.htm
- 8zurich.com/en-us/media/press-releases/homeowners-insurance-cost-report-2023.pdf
- 10urban.org/research/publication/home-could-lag/
- 11redfin.com/news/housing-market-update/
- 12redfin.com/news/data-center/
- 13firststreet.org/press-release/25-percent-of-us-homes-flood-risk-first-street-foundation/
- 14firststreet.org/press-release/first-street-wildfire-risk-7-3-million-homes/
- 15noaa.gov/news/noaa-releases-2023-billion-dollar-disasters-summary
- 16fema.gov/data-visualization/disaster-declarations
- 17fema.gov/sites/default/files/documents/fema-nfip-fact-sheet.pdf
- 18fema.gov/sites/default/files/documents/fema-nfip-monthly-statistics.xlsx
- 19census.gov/programs-surveys/ahs.html
- 20freddiemac.com/pmms/
- 21huduser.gov/portal/datasets/il.html
- 22nasdaq.com/market-activity/stocks/housing-finance-industry-report
- 23federalreserve.gov/releases/z1/
- 24federalreserve.gov/releases/g19/