15 Favorites From Zillow Group Report on Consumer Housing Trends Report 2017
Millennials make up almost a third of sellers. Forty percent of U.S. homeowners share their home with a pet. Nearly a third of buyers go over budget. We have the rundown on housing market data.
Even Fixer-Uppers Are Flying Off the Market
In some markets, fixer uppers fly off the market faster than other listings: In Miami, the median fixer upper took 15 fewer days to go pending than the median move-in ready listing. In Atlanta, the median fixer upper went pending in 10 fewer days, and Dallas and Orlando, Fla., 9 fewer days.
August 2017 Market Report: More Than Half of U.S. Homes Have Rebounded to Pre-Recession Peak Values
Less than half (47 percent) of homes valued in the bottom third nationally were worth the same or more than their prior highs, while 52.5 percent of the middle third and 53.8 percent of homes valued in the top third were.
An Estimated 123,000 ‘Dreamers’ Own Homes and Pay $380M in Property Taxes
California and Texas Dreamer homeowners pay enough in property taxes to fund the salaries of more than 1,500 elementary school teachers in each state for a year.
Breakeven Horizon Shortens Nationally, But Still Lengthening in Most Major Metros
It takes 4.9 years of renting in San Jose before buying a home there is a better prospect – but not because rents in San Jose are affordable: The median rent is $3,600 a month, among the highest in the country. It’s just that the median home value is even less affordable: $992,144.
A Majority of U.S. Households Could – in Theory – Afford to Buy a $300K, Newly Built Home
Almost 60 percent of U.S. households earn enough money to theoretically buy a typical, newly constructed home priced at about $300,000 – and raising the price doesn’t thin the herd of potential buyers as much as may be expected, thanks in large part to very low mortgage interest rates.
Housing Before and After the Crash: Taking Inventory of Our Housing Market Fears
Economists are fond of saying that economic expansions “don’t die of old age.” But the current expansion’s longevity – it is now the third-longest economic expansion in American history[1] – naturally prompts questions, and fears, about its eventual end.
For Many Low-Income Households, Even Low-Valued Homes Aren’t Affordable
Lower-income households spend 23 percent of their incomes on mortgages for homes valued in the lower third -- more than twice the 11.1 percent that a typical high-income homeowner pays for a home valued in top third of homes nationally. The inequality is worse in pricey coastal markets.
July 2017 Market Report: Almost Half of U.S. Homes Are Worth More Now Than Before the Bubble
In seven metro areas, more than 90 percent of homes have exceeded their pre-recession peak values.. But only 0.4 percent of homes in Las Vegas is worth more than its pre-recession peak value.
Highly ‘Favorited’ Homes on Zillow Sell Faster and for More Money
Favorites are a leading indicator of market competitiveness: Homes that accumulate the most favorites -- in the 80th percentile of their metro or higher – sell faster than 64 percent of the homes in their area. Those same highly favorited homes sell for a higher sale-to-list-price ratio than most other homes in their metro area.
