Study: Red States Enjoy Higher Home Price Appreciation

Jan 24, 2020

When it comes to home price appreciation, it appears that states carrying a red political hue enjoy a higher level of home price appreciation than those considered to be blue states.

According to study from Veros Real Estate Solutions, home prices in the nation’s largest 100 markets are projected to rise by 3.9 percent by the end of this year. However, Veros also detected a significant gap in prices between red states and blue states, with the red states projecting a 4.6 percent rise in prices by year’s end and blue states projecting only a 3.5 percent uptick.

Furthermore, Veros said 20 of the top 25 states with the greatest level of projected home price appreciation were red or red-leaning states, most notably Idaho (9.30 percent), Arizona (7.20 percent) and Utah (6.20 percent). Fifteen of the bottom 26 states, including the District of Columbia, were blue or blue-leaning states, most notably Illinois (0.70 percent), Connecticut (1.00 percent) and a tie between New York and Hawaii (each at 2.20 percent).

“For years, we saw states with high population centers like California and New York dominating home price escalation,” said Eric Fox, Veros vice president of Statistical and Economic Modeling. “We are now seeing states like Idaho and Arizona leading the way. Outmigration from the coasts to the interior of the nation is undeniable.”

When it comes to home price appreciation, it appears that states carrying a red political hue enjoy a higher level of home price appreciation than those considered to be blue states

About the author

Phil Hall

Link copied

Published

Jan 24, 2020

Industry News

More Questions Than Answers At Housing Finance Climate Summit

Government officials, housing leaders, and climate scientists meet to address climate change's escalating impact on housing.

At an invitation-only gathering of senior government housing officials, industry leaders, insurance experts, climate scientists, economists, investors, and data analysts last week, the prevailing attitude of “urgent but manageable” disguised the lack of quantifiable, actiona...

Analysis and Data

Luxury Home Prices Reach A Record High

Buyers living in the lap of luxury don't stress about mortgage rates, Redfin reports.

Although luxury homes haven’t necessarily become any more luxurious this year, home prices on those properties grew an average 8.7%, selling for a record $1,225,000 in the first quarter, according to a new Redfin report. However, prices of non-luxury homes rose at roughly ha...