Morning Minute: Study finds drop in violent crime = rise in home values

A study by the Center for American Progress found that when violent crime rates drop in major cities, it can mean billions of dollars in increased home price gains, the HousingWire reports.

Murder, rape, assault and robberies have are costly for victims and the surrounding community. But (researchers) also found a stark correlation to home values. On average, a reduction of one homicide in a ZIP Code for a given year generates a 1.52% increase in home prices the next year, according to their analysis. — HousingWire

In other news:

Real estate (and the housing recovery) is local. The Wall Street Journal article, “The Myth of the National Housing Market,” looks at the trend that housing recoveries are local and broad national trends don’t always apply.

 

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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