The real estate market doesn’t seem to be crashing quite as hard as industry experts and the media were predicting in 2006 – home value prices haven’t plummeted and the bubble hasn’t burst so much as deflated. The S&P CoreLogic Case-Shiller index for home prices, a widely-cited barometer for the national housing market, registered the slowest pace of home-price growth since 2012 in June of 2.1%. A year earlier, home prices were rising at an annual rate of 6.3%.
In Boston, a one standard deviation increase in Airbnb listings … relative to total housing units is correlated with a 5.9 percent decrease in the number of rental units offered for rent,” University of Massachusetts researchers wrote, which they say then translates into the price changes outlined above.
With a population of nearly 2.5 million, Nevada has a low unemployment rate of about 4.4% for 2007, coming closer and closer to their all time historical low in May of 2006 at 4.1%. The average household income in Nevada in 2005 was about $48,496 (currently, it’s probably very close to $50,000) while the average home value for an 1800 square foot single family home is a little over $330,000.
Knowing your home’s value allows you to evaluate what you can afford, determine whether a listing is priced appropriately and decide how to price your own home, says Gayle Weiswasser, senior vice president of marketing and communications at Homesnap, an app that offers home value estimates.
We teamed up with Zillow to find the median home value of each of the 50 states in the US, including Washington, DC. While there was some fluctuation from last year’s numbers , the highest and lowest state medians are the same: West Virginia — the only state with a sub-$100,000 median — remains the cheapest, while Hawaii holds its position as the most expensive.