Sullivan Team

Rent VS Buying October 2017




Buying Cheaper Than Owning In MA and 38 Other States

Buying Remains Cheaper Than Renting In 39 States!


In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the two shades of blue in the map below).


One of the main reasons owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows. Freddie Mac reports that the current interest rate on a 30-year fixed rate mortgage is 3.91%.

Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters who would like to evaluate your ability to buy this year, meet with a local real estate professional who can help you find your dream home.

Essex County Housing Report September 2017

To view data for every Essex County town, go to: 

To dowload the full Housing Report go to:

US August Home Sales Up 0.2% and Prices Up 5.6% From Last Year, Inventory Drops


For full article

Essex County Housing Report August 2017

To view data for every Essex County town, go to: 

To view and dowload the full Housing Report go to:


 To view and dowload the full Housing Report go to:

US Housing Starts Are Up 7.4% from May and 5.1% From Year Earlier

The U.S. Census Bureau and the Department of Housing and Urban Development said:

Building permits were issued at a seasonally adjusted annual rate of 1,254,000 units. 

This is a 7.4 percent jump from the May rate of 1,168,000.

June permits were issued at a 5.1 percent higher pace than a year earlier.


 For full article -



July 2017 Essex County Housing Report

To view data for every Essex County town, go to

To download this Housing Report go to:



The Cost To Buy VS Rent June 2017


Top Home Renovations for Maximum ROI


Homes Selling Fast Across The Country