Month: June 2017

29 Jun

Homeowners Named Stuart and Alison Own Most Valuable Homes in the U.S.

SEATTLE, June 29, 2017 /PRNewswire/ — Homeowners named Stuart and Alison are among the top names of homeowners with the most valuable homes in the country, worth a median of more than $330,000 — 66 percent more than the median home value in the U.S. The most common first name of a U.S. homeowner is John, according to a new Zillow® analysisi.

Zillow analyzed the first names of homeowners on 70 million property records and found that Peter, Alexandra and Geoffrey are also among the top 10 names of homeowners with the most valuable homes in the country. All names on the list own homes that are more than 1,550 square feet, with a median value that is more than the U.S. median.

In Washington, D.C., homeowners named Jane own the most valuable homes, worth almost $900,000 — about 134 percent more than the median home value in the area. Homeowners named Anne own the most valuable homes in California, worth about 30 percent more than the median home value in the state.

Zillow’s analysis of homeowner names reveals demographic trends across the country as U.S. homeowners grow increasingly diverse. Historically, men were more likely than women to own homes, but that trend is starting to shift. According to the Zillow Group Consumer Housing Trends Reportii, 49 percent of homeowners are female and 51 percent are male.

In 30 of the 46 states Zillow analyzed, homeowners with the most valuable homes have traditionally female names, with Anne the name that reoccurs the most.

About 64 percent of all Americans are homeownersiii. The homeownership rate is the highest in the Midwest. John is the most common U.S. homeowner name, followed by Robert and James. Other common U.S. homeowners’ names include Mary, Richard and Thomas.

In California, Salvador is a more populariv homeowner name than it is nationally, but in the small state of Rhode Island, Claire is more popular. In the Pacific Northwest, the name Heidi is a more popular homeowner name than it is nationally, whereas Willie is much more likely to be the name of a homeowner in the Southeastern states of Alabama, Louisiana and Georgia.

 Names of Owners of Most Valuable
Homes

10 Most Common U.S.
Homeowner Names

Ranking

Name

Median Zestimate

         Ranking

Name

1

Stuart

$         334,022

1

John

2

Alison

$         332,403

2

Robert

3

Peter

$         325,126

3

James

4

Alexandra

$         324,779

4

Michael

5

Geoffrey

$         322,272

5

David

6

Marc

$         321,216

6

William

7

Salvatore

$         316,151

7

Mary

8

Anne

$         309,491

8

Richard

9

Marina

$         309,041

9

Thomas

10

Ian

$         307,179

10

Joseph

“This analysis reveals a lot of interesting – and fun – differences between homeowner names and the relative popularity of less common or non-traditional homeowner names from region to region,” said Zillow Chief Economist Dr. Svenja Gudell. “U.S. homeowners are an incredibly diverse bunch, with a variety of names reflective of many cultural and familial backgrounds.”

State

Most Popular Homeowner
Name Relative to Other
States

Names That Own the Most
Valuable Homes

Median Zestimatev of
Homes with Most
Valuable Name

Alabama

Willie

Anne

$208,219

Alaska

Vernon

Todd

$410,677

Arkansas

Tommy

Amy

$183,464

Arizona

Guadalupe

Jill

$271,431

California

Salvador

Anne

$669,645

Colorado

Erin

Anne

$430,701

Connecticut

Maureen

Jill

$306,376

District of Columbia

Gwendolyn

Jane

$898,551

Delaware

Harry

Philip

$228,677

Florida

Jorge

Peter

$248,627

Georgia

Willie

Suzanne

$270,317

Hawaii

Florence

Doris

$765,307

Iowa

Kent

Kristin

$224,240

Idaho

Corey

Jane

$241,159

Illinois

Adam

Peter

$269,635

Indiana

Jeffery

Anne

$166,599

Kansas

Marvin

Randall

$136,561

Kentucky

Jeff

Peter

$189,120

Louisiana

Willie

Stephen

$207,305

Massachusetts

Claire

Alexander

$457,944

Maryland

Melvin

Peter

$370,229

Michigan

Gerald

Anne

$220,621

Minnesota

Kari

Kristin

$288,618

Missouri

Kyle

Anne

$220,911

Mississippi

Rosie

Julie

$179,710

Montana

Shane

Martha

$247,231

North Carolina

Bobby

Peter

$255,091

North Dakota

Kari

Craig

$284,996

Nebraska

Tyler

Kristin

$208,676

New Jersey

Salvatore

Jill

$380,202

New Mexico

Gilbert

Jane

$264,891

Nevada

Jesus

Suzanne

$292,231

New York

Salvatore

Alexander

$457,011

Ohio

Beth

Erin

$184,478

Oklahoma

Bill

Julie

$171,823

Oregon

Heidi

Anne

$387,159

Pennsylvania

Francis

Lauren

$241,764

Rhode Island

Claire

Katherine

$320,489

South Carolina

Willie

Anne

$228,367

Tennessee

Billy

Julie

$199,768

Texas

Guadalupe

Scott

$258,600

Utah

Shauna

Peter

$333,604

Virginia

Anne

Peter

$470,789

Washington

Heidi

Anne

$435,308

Wisconsin

Kristine

Anne

$224,977

West Virginia

Wilma

Todd

$134,102

Zillow
Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG), and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc.

i Zillow analyzed the names that appear on at least 70 million property records and only included names of people that own at least 25,000 homes. Names with three letters or more were included in the research. The data was analyzed at a national level and by each region to provide high quality, reliable information. 
ii The first annual Zillow Group Report is the largest-ever survey of U.S. home buyers, sellers, owners and renters, and asked more than 13,000 U.S. residents aged 18 to 75 about their homes – how they search for them, pay for them, maintain and improve them, and what frustrations and aspirations color their decisions. 
iii According to U.S. Census data. 
iv The most popular homeowner name in each state is the homeowner name that is the most popular relative to the rest of the nation. Another name may own more homes within the state, but not own the most homes relative to the rest of the nation. 
v The Zestimate® home value is Zillow’s estimated market value for an individual home and is calculated for over 100 million homes nationwide. It is a starting point in determining a home’s value and is not an official appraisal. The Zestimate is automatically computed daily based on millions of public and user-submitted data points.

SOURCE Zillow

22 Jun

Number of Virginia homes Drop at Fastest Pace in Four Years

SEATTLE, June 22, 2017 /PRNewswire/ — The amount of for-sale homes hitting the marketplace is dropping at its fastest pace in almost four years, based on the May Zillow® MARKET Reportsi. The normal home stayed available for 77 days just, the fewest days on Zillowii reported ever.

Across the national country, when compared to a year ago home shoppers could have 9 percent fewer homes to pick from, which is the best drop in inventory since August 2013 when inventory was down a lot more than ten percent.

Columbus, Ohio, San Jose, Calif. and Minneapolis reported the best annual declines in the amount of virginia homes, with about 30 % fewer virginia homes in each market. In San Diego, when compared to a year ago you can find 26 percent fewer homes in the marketplace, and 22 percent fewer in Seattle. Both San Diego and Seattle have high buyer demand and home value growth of over 6 percent.

When the housing marketplace crashed, many Americans went from owning single-family homes to renting them — between 2005 and 2016, the real amount of owner-occupied single-family homes fell by 680,000, as the true amount of renter-occupied single-family homes increased by 6.2 millioniii.

This upsurge in the true amount of single-family home rentals is among the explanations why inventory remains low. The quantity of new construction coming available was not enough to offset the subtraction of more single-family homes being changed into rentals. Rental homes are generally put on the market less, which creates more choices for renters, but fewer for buyers.

“Inventory has been falling for a long time with supply no more meeting demand, and you can find many reasons for the worsening situation,” said Zillow Chief Economist Dr. Svenja Gudell. “On the demand side, simple demographic change is adding to incredibly popular as millennials reach their prime home-buying years and commence to enter the marketplace in droves. That is in conjunction with relatively low degrees of new home construction on the supply side insufficient to help keep pace with demand, and what’s built is basically priced beyond the reach of several of the first-time and entry-level home buyers on the market. A large number of single-family homes which were once bought and sold every couple of years before the recession have been changed into rental properties by investors, trading hands significantly less and further adding to inventory shortages frequently. And finally, in a few hard-hit markets still, negative equity is probable keeping many homeowners of lower-end homes from listing their home on the market since they can’t afford to profitably achieve this. There is absolutely no silver bullet which will clear the marketplace of all of the presssing issues, and buyers annoyed by the status quo will probably need to remain patient and become prepared to pounce once that perfect home does become available.”

The median home value in the united states is $199,200, 7 up. year 4 percent since this time around last. Seattle, Dallas and Tampa, Fla. reported the best year-over-year home value appreciation on the list of 35 largest U.S. metros. In Seattle, home values rose almost 13 percent to a median value of $440,100. Home values in Dallas and Tampa are up about 11 percent since this time around this past year.

Median rent over the nation rose 0.7 percent since last May, to a median payment of $1,per month 416. Seattle, Sacramento, Calif. and Los Angeles reported the best year-over-year rent appreciation on the list of 35 largest U.S. metros. Rents in Seattle are up almost 6 percent to a Zillow Rent Indexiv (ZRI) of $2,127. Median rent in Sacramento is up 4.5 percent, while Los Angeles median rent are up 4 percent.

Mortgage ratesv the month of May at 3 on Zillow ended.73 percent, of the month the cheapest level. Mortgage rates hit a higher of 3.90 percent significantly less than fourteen days into Mayvi. Zillow’s real-time mortgage rates derive from a large number of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the newest changes on the market.

Metropolitan Area

 Zillow Home Value
Indexvii (ZHVI)

Year-
over-Year
ZHVI
Change

Zillow Rent
Index (ZRI)

Year-
over-Year
ZRI
Change

Year-over-
Year
Inventory
Change

% Change in
Single-Family
Home Rentals
Since 2000

United States

$               199,200

7.4%

$                1,416

0.7%

-9.4%

46.6%

New York, NY

$               419,000

8.7%

$                2,374

-1.9%

-16.6%

0.4%

Los Angeles-Long
Beach-Anaheim,
CA

$               606,500

5.8%

$                2,667

4.1%

-12.4%

19.5%

Chicago, IL

$               210,200

6.3%

$                1,631

-1.0%

-11.4%

83.6%

Dallas-Fort Worth,
TX

$               209,200

11.2%

$                1,580

2.9%

8.3%

66.1%

Philadelphia, PA

$               218,300

5.0%

$                1,563

-0.9%

-14.5%

39.5%

Houston, TX

$               175,800

2.7%

$                1,541

-2.7%

9.1%

59.1%

Washington, DC

$               383,200

3.4%

$                2,120

-0.1%

-18.7%

38.1%

Miami-Fort
Lauderdale, FL

$               251,700

8.2%

$                1,848

-1.8%

1.3%

76.8%

Atlanta, GA

$               178,700

7.8%

$                1,343

2.8%

-8.1%

159.1%

Boston, MA

$               425,500

7.6%

$                2,361

3.2%

-21.2%

27.3%

San Francisco, CA

$               851,900

5.3%

$                3,362

-0.4%

-20.1%

32.5%

Detroit, MI

$               140,900

10.5%

$                1,165

-1.4%

-18.7%

49.0%

Riverside, CA

$               326,800

6.6%

$                1,780

3.0%

-17.8%

84.5%

Phoenix, AZ

$               235,100

6.4%

$                1,315

1.9%

-7.8%

186.5%

Seattle, WA

$               440,100

12.7%

$                2,127

5.7%

-22.2%

45.0%

Minneapolis-St
Paul, MN

$               247,100

8.9%

$                1,584

3.1%

-28.7%

178.0%

San Diego, CA

$               543,400

6.5%

$                2,467

2.6%

-25.5%

43.3%

St. Louis, MO

$               148,700

4.5%

$                1,141

0.0%

-14.2%

66.9%

Tampa, FL

$               184,900

10.5%

$                1,353

2.1%

-17.6%

109.5%

Baltimore, MD

$               260,400

3.6%

$                1,721

-0.7%

-19.0%

16.3%

Denver, CO

$               368,200

9.2%

$                2,001

0.1%

2.5%

77.0%

Pittsburgh, PA

$               136,900

5.0%

$                1,067

-5.2%

-9.3%

26.7%

Portland, OR

$               363,800

6.7%

$                1,816

3.5%

2.8%

43.8%

Charlotte, NC

$               173,200

7.8%

$                1,257

1.0%

-17.4%

101.1%

Sacramento, CA

$               366,500

8.6%

$                1,735

4.5%

-14.1%

49.6%

San Antonio, TX

$               160,400

5.7%

$                1,329

1.0%

-0.9%

38.8%

Orlando, FL

$               205,700

9.8%

$                1,402

2.7%

-14.3%

100.8%

Cincinnati, OH

$               151,600

6.3%

$                1,254

1.0%

-20.2%

68.3%

Cleveland, OH

$               134,000

5.2%

$                1,150

0.7%

4.0%

52.8%

Kansas City, MO

$               158,200

6.6%

$                1,263

1.7%

8.2%

81.2%

Las Vegas, NV

$               222,900

10.2%

$                1,248

0.8%

19.2%

259.0%

Columbus, OH

$               161,900

4.6%

$                1,300

0.9%

-30.1%

76.3%

Indianapolis, IN

$               137,700

5.1%

$                1,188

-0.3%

-22.1%

70.0%

San Jose, CA

$            1,007,400

4.9%

$                3,465

-1.2%

-29.2%

24.9%

Austin, TX

$               271,000

7.5%

$                1,693

-1.1%

23.9%

65.5%

About Zillow

Zillow® may be the leading real rental and estate marketplace focused on empowering consumers with data, inspiration and knowledge round the accepted place they call home, and connecting them with the very best local professionals who is able to help. Furthermore, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering a lot more than 450 markets at Zillow PROPERTY Research. Zillow sponsors the quarterly zillow Home Price Expectations Survey also, which asks a lot more than 100 leading economists, property experts and investment and market strategists to predict the road of the Zillow Home Value Index on the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG), and headquartered in Seattle.

Zillow is really a registered trademark of Zillow, Inc.

i The Zillow MARKET Reports certainly are a monthly summary of the neighborhood and national areas. The reports are published by Zillow PROPERTY Research. To learn more, visit www.zillow.com/research/. The info in Zillow’s MARKET Reports are aggregated from public sources by way of a amount of data providers for 928 metropolitan and micropolitan areas dating back to to 1996. Mortgage and home loan data are usually recorded in each county and publicly available by way of a county recorder’s office. All current monthly data at the national, state, metro, city, ZIP neighborhood and code level could be accessed at www.zillow.www and com/local-info/.zillow.com/research/data.
ii Days on Zillow may be the median days on market of homes sold inside a given month, including foreclosure re-sales. Month before the current ZHVI the most recent data is for just one. Month for ZHVI data is May probably the most current, month for Days on Zillow is April therefore the most current.
iii here In accordance with Zillow Research.
iv The Zillow Rent Index (ZRI) may be the median Rent Zestimate® (estimated monthly rental price) for confirmed geographic area on confirmed day, and includes the worthiness of most single-family residences, condominiums, cooperatives and apartments in Zillow’s database, whether or not they’re listed for rent currently. It really is expressed in dollars. 
v Rates for a 30-year fixed mortgage.
vi Month high occurred on May 11th.  
vii The Zillow Home Value Index (ZHVI) may be the median estimated home value for confirmed geographic area on confirmed day and includes the worthiness of most single-family residences, cooperatives and condominiums, of if they sold inside a given period regardless. It really is expressed in dollars, and adjusted seasonally.

SOURCE Zillow

16 Jun