Red State Vs. Blue State Housing Markets in 2020
We have seen several posts about where people are moving here in America. If you look at that data through a political lens (it is an election year, after all) and see them as Red (Republican) and Blue (Democratic) states, an interesting picture emerges. A new report from Veros Real Estate Solutions took a look at home price appreciation across party lines in the largest 100 markets across the nation. Their analysis shows that the average appreciation in Blue States is forecast to be just 3.5%, while the average appreciation for Red States is projected to be over a percentage point higher at 4.6%. They say this is due to stagnant population growth in many Blue States, while Red States are experiencing population growth that contributes to high demand and home price appreciation. Indeed….
“…Veros observed that 20 of the top 25 states with strong home price appreciation were Red or Red-leaning states. For the bottom 26 states (including the District of Columbia), 15 of them were Blue or Blue-leaning states…”