Home Values Remain Low in Vast Majority of Formerly Redlined Neighborhoods
Home values in the vast majority of neighborhoods that were “redlined” as hazardous for mortgage lending by the federal government 80 years ago are lower now than in areas rated more highly.
Redlining and Home Values in St. Louis, Philadelphia and Portland, Ore.
We talked to locals in Portland, Philadelphia and St. Louis -- places where home values in formerly redlined areas have passed the values in some other neighborhoods. The reasons they gave ranged from imminent domain to gentrification to early efforts to stave off urban decay.
Geographies Analyzed for Redlining-Home Value Research
Zillow analyzed redlined neighborhoods in the 151 cities, counties or other geographic areas listed here. In three-quarters of them, formerly redlined neighborhoods now have lower median home values than communities that carried different labels.
February Case-Shiller Results and March Forecast: Home Prices Pushed Higher by Inventory Crunch
The kind of sustained, rapid home price growth we’ve been seeing in Case-Shiller and other indices for the past few years is enough to give home buyers of all stripes a headache. And don’t expect things to slow down any time soon.
March New Home Sales: Inventory Maintains Earlier Gain
The median seasonally adjusted price of new homes sold in March increased by 2.1 percent from February to $336,100, a new all-time high beating the previous record of $334,900 reported in November 2017.
Rapid Reaction: March New Home Sales
March new home sales rose 4 percent from February and 8.8 percent from a year ago, to 694,000 units (SAAR), according to the U.S. Census Bureau. Data from the prior three months was also revised up by a combined 152,000 units.
March Existing Home Sales Key Takeaways: Inventory Green Shoots
March existing home sales increased 1.1 percent from February to 5.6 million units at a seasonally adjusted annual rate (SAAR), according to the National Association of Realtors, the second consecutive month of unexpectedly strong sales after a string of weak reports.
Rapid Reaction: March Existing Home Sales
March existing home sales rose 1.1 percent from February, to 5.6 million (SAAR), according to the National Association of Realtors. Sales were down 1.2 percent from a year ago.
Black Mortgage Applicants Denied at More Than Twice the Rate of Whites
Overall denial rates for conventional mortgages have fallen for almost a decade, a sign of progress that nevertheless conceals a stark divide in the housing market: Black applicants for conventional mortgages are denied at more than twice the rate of white applicants.
Economic Strength Continues to Steady Mortgage Rates in the Face of Political Shocks
While geopolitical headlines temporarily seized markets’ attention – as they have time and time again over the past few years – underlying macroeconomic fundamentals continue to point to a reasonably strong U.S. economy.
