Are you looking to add Home Inspection to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Home Inspection statistics of 2024.
My team and I scanned the entire web and collected all the most useful Home Inspection stats on this page. You don’t need to check any other resource on the web for any Home Inspection statistics. All are here only š
How much of an impact will Home Inspection have on your day-to-day? or the day-to-day of your business? Should you invest in Home Inspection? We will answer all your Home Inspection related questions here.
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On this page, you’ll learn about the following:
Best Home Inspection Statistics
ā° Use “CTRL+F” to quickly find statistics. There are total 62 Home Inspection Statistics on this page šHome Inspection Market Statistics
- And Rob’s sellers usually obtain 97% to 105% of their list price with less than two weeks on the market. [0]
- And they stayed on the market 40% fewer days. [0]
Home Inspection Latest Statistics
- According to the survey from Porch, 88% of buyers used a home inspectorās services for their most recent home purchase. [1]
- According to findings from Porch, 86% of buyers who used a home inspection said that their inspector identified at least one problem that should be addressed. [1]
- Hereās where inspectors most frequently helped identify potential problems, according to surveyed buyers Nearly 20% (19.7%). [1]
- 18.7% found at least one issue with the homeās electrical system 18.4% found problems with the homeās windows 13.6% discovered issues with the homeās plumbing systems, and 12.2% with the water heater. [1]
- About 46% of buyers reported that they āused home inspection reports to negotiate a lower price on their home.ā. [1]
- 14.3% of all Home Inspectors are women, while85.7%aremen. [2]
- The most common ethnicity of Home Inspectors is White (73.5%), followed by Hispanic or Latino (12.0%) and Black or African American (7.8%). [2]
- In 2021, women earned 89% of what men earned. [2]
- The top 10% of highest paid Home Inspectors earn as much as $80,000 or more. [2]
- Home Inspector 86% Home Inspector 14%. [2]
- The most common ethnicity among Home Inspectors is White, which makes up 73.5% of all Home Inspectors. [2]
- Comparatively, there are 12.0% of the Hispanic or Latino ethnicity and 7.8% of the Black or African American ethnicity. [2]
- White, 73.5% Hispanic or Latino, 12.0% Black or African American, 7.8% Asian, 4.1%. [2]
- Unknown, 1.8% American Indian and Alaska Native, 0.8%. [2]
- Using the Census Bureau data, we found out how the percentage of each ethnic category trended between 2010 2019 among Home Inspectors. [2]
- Interestingly enough, the average age of Home Inspectors is 40+ years old, which represents 80% of the population. [2]
- 45% of Home Inspectors earn that degree. [2]
- A close second is Associate Degree with 27% and rounding it off is High School Diploma with 13%. [2]
- Bachelors, 45% Associate, 27% High School Diploma, 13% Masters, 5%. [2]
- Other Degrees, 10% Home Inspector Wage Gap By Education. [2]
- By looking over 2,675 Home Inspectors resumes, we figured out that the average Home Inspector enjoys staying at their job for 1 2 years for a percentage of 26%. [2]
- Home Inspector 8.69% Cribber 7.05% Elevator Repairer Helper 4.74% Transportation Maintenance Operator 4.47% Wire Fence Erector 2.38% Drywall Finisher 2.14% Construction Contractor 2.04% Profession. [2]
- The most common foreign language among Home Inspectors is Spanish at 77.3%. [2]
- The secondmost popular foreign language spoken is Italian at 9.1% and Russian is the third most popular at 4.5%. [2]
- Spanish, 77.3% Italian, 9.1% Russian, 4.5% Polish, 4.5% French, 2.3% Other, 2.3%. [2]
- This article discusses the most common issues found in home inspections, according to a survey of 1,000 homebuyers, including roofing, electrical wiring, windows, gutters, and plumbing. [3]
- the number of licensed Louisiana State inspectors has increased over 60% from the year prior. [4]
- Home inspections have also increased, with LSBHI seeing a jump of approximately 17.5% more homebuyers requesting inspections. [4]
- This result reflects typical mortgage requirements, with 83 percent who used an inspector reporting that their lender insisted on an assessment. [5]
- In 80 percent of cases, the buyers paid for the inspection. [5]
- Another 14 percent of people chose their inspector based on a friend’s or family member’s recommendation, while 10 percent said the seller picked who would perform the inspection. [5]
- 72 percent said they only considered one inspector before moving forward. [5]
- Of the respondents who had an inspection performed, 86 percent said their inspector identified at least one problem. [5]
- Problems with windows were also quite prevalent, showing up on over 18 percent of reports in which issues were detected. [5]
- Gutter issues, branches overhanging the roof, and fencing problems appeared on more than 10 percent of reports. [5]
- In 38 percent of cases, buyers took their agent’s advice about revising their offer after an inspection. [5]
- Thankfully, only 23 percent reported they relied on guesswork to revise their offer. [5]
- Letās talk about some of the leading practices in, and the stateofthe art equipment for, conducting home inspections that are expected to carry onāand likely to see more advancementsāin 2019. [6]
- According to data from real estate brokerage Redfin, 20% of winning buyers waived their right to an inspection in June. [7]
- Thatās up 13% from a year earlier. [7]
- (In general, itās smart to budget about 1% of your homeās value toward annual maintenance. [7]
- Four percent if itās more than 25. [7]
- Mortgage servicers retained just 18% of the estimated 2.8 million homeowners who refinanced in the fourth quarter of 2020, the lowest share on record. [7]
- Closing fees for refinancing typically cost 2% to 5% of your new loan amount ā on a $300,000 balance, thatās $6,000 to $15,000, since some lenders charge higher fees for home appraisals, title searches, and other services. [7]
- Some lenders charge customers a percentage (usually 2% to 3%). [7]
- Rising existing home sales will likely drive demand for industry services Building Inspectors in the US industry trends. [8]
- Due to the COVID 19 pandemic, many operators will likely continue to conduct inspections remotely, via video calls. [8]
- attach_money Market Size $5bn business Number of Businesses 34,164 poll Average Industry Profit Margin x.x% Purchase this report or a membership to unlock the average company profit margin for this industry. [8]
- 54,106 Biggest companies in the Building Inspectors industry in the US pie_chart AmeriSpec Inspection Services Market Share x.x% Purchase this report or a membership to unlock our full summary for this industry. [8]
- Issuing violation notices and stopwork orders until building in violation is compliant Keeping daily logs, including photographs taken during inspection 00.5% increase 0. [8]
- They sold for 2% more of the original list price. [0]
- In fact, according to a new analysis, they save buyers an average of $14,000 per home purchase. [9]
- According to the report, the average list price before an inspection is $226,600. [9]
- About 36 percent of buyers said their inspector even provide estimated repair costs for each issue found. [9]
- In 86 percent of cases, the inspector found an item that needed repairs. [9]
- Nearly 20 percent of inspections revealed a roof issue and 18 percent showed an electrical problem. [9]
- In Illinois, children under the age of five account for 20% of all residential fire deaths. [10]
- After all, among sellers who had a sale fall through, 15 percent were due to the buyer backing out after the inspection report. [11]
- The amount and type of credit you offer to the buyer varies based on the level of repairs needed, but youāre in good company ā 83 percent of sellers make some sort of concession to close the deal. [11]
- According to Zillow Research, 36 percent of buyers have the seller correct the problem before purchase. [11]
I know you want to use Home Inspection Software, thus we made this list of best Home Inspection Software. We also wrote about how to learn Home Inspection Software and how to install Home Inspection Software. Recently we wrote how to uninstall Home Inspection Software for newbie users. Donāt forgot to check latest Home Inspection statistics of 2024.
Reference
- home-probe – https://www.home-probe.com/blog/pre-listing-home-inspection.
- windycityhome – https://windycityhome.com/2019/10/08/home-inspection-stats-research/.
- zippia – https://www.zippia.com/home-inspector-jobs/demographics/.
- nar – https://www.nar.realtor/home-inspections.
- state – https://lsbhi.state.la.us/lsbhi-releases-home-inspection-statistics-during-national-home-inspection-month/.
- porch – https://porch.com/resource/home-inspection-leverage.
- inspectorchecklist – https://inspectorchecklist.com/home-inspection-trends-2019/.
- money – https://money.com/coronavirus-skip-home-inspection/.
- ibisworld – https://www.ibisworld.com/united-states/market-research-reports/building-inspectors-industry/.
- themortgagereports – https://themortgagereports.com/51825/home-inspections-can-save-homebuyers-big-heres-just-how-much.
- cville – https://www.cville.org/201/Home-Inspections.
- zillow – https://www.zillow.com/sellers-guide/bad-home-inspection-for-sellers/.
How Useful is Home Inspection
One of the primary advantages of a home inspection is that it can help uncover any hidden issues or defects that may not be readily apparent to the untrained eye. From unseen water damage to faulty electrical wiring, professional inspectors have the expertise and tools to identify potential problems that could end up costing buyers thousands of dollars in repairs down the line. By knowing about these issues upfront, buyers can make informed decisions about whether to proceed with the purchase, negotiate repairs with the seller, or walk away from the deal altogether.
Beyond identifying problem areas, home inspections also provide buyers with peace of mind and confidence in their investment. Understanding the current condition of the property they are interested in allows buyers to better plan for future maintenance and repairs, ensuring that they are not met with any unpleasant surprises after closing. Additionally, knowing that a thorough inspection has been conducted can help buyers feel more secure in their decision to move forward with the purchase, knowing that they have done their due diligence in assessing the property’s condition.
In addition to benefiting buyers, home inspections can also be advantageous for sellers. By proactively conducting a home inspection before listing their property, sellers can identify and address any issues that could potentially hinder the sale process. By resolving these issues upfront, sellers can increase their home’s appeal to potential buyers and potentially command a higher asking price. Additionally, having a recent inspection report available can instill confidence in buyers and streamline the closing process, making the sale smoother for all parties involved.
Overall, home inspections are a valuable tool for home buyers and sellers alike, providing important insights into a property’s condition and helping to protect both parties from potential pitfalls. The relatively small cost of a home inspection can ultimately save buyers and sellers substantial amounts of money and headache in the long run, making it a wise investment in the home buying process. By embracing the importance of home inspections and valuing the expertise of professional inspectors, individuals can make more informed decisions when it comes to purchasing or selling a home.
In Conclusion
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