Based on research conducted in November 2018, a new snapshot of housing conditions predicts dwindling affordability and more homes at risk from extreme weather.
In 2019, the rate for a 30-year fixed mortgage is expected to hit 5.8 percent, according to Zillow's predictions. Looking beyond next year, the real estate platform's research finds that by 2050, if greenhouse gas emissions are not curbed, 386,000 U.S. homes on the coasts are likely to be at risk of permanent or chronic flooding, and will grow to 2.5 million homes by 2100. If emissions are checked in line with the Paris climate accord, 348,000 homes will be at risk by 2050, and 1.3 million by 2100, indicating that the nation's housing is on pace for significant loss, substantiating the need to reconsider where homes are built or rebuilt.
1.4 percentage points: Boost in annual rent appreciation — beyond what’s already anticipated — that people living in the New York area can expect from the “Amazon effect” of adding 25,000 high-paid jobs.
19: Number of markets out of the 35 most populous where there’s a double-digit percentage point gap between home-value recovery rates for ZIP codes where there were high versus low foreclosures during the housing crisis. The recovery has been uneven, even within markets.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable