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USING REAL ESTATE DATA TO TELL STORIES ABOUT AFFORDABILITY AND CHANGING

NEIGHBORHOODS

Skylar Olsen, PhD, Senior Economist

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Home appreciation varies widely across the country

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Jacksonville metro, Zillow Home Value Tiers

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Jacksonville metro, Inventory Tiers

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Diving into Jacksonville Metro

-38.9%Peak-to-trough

-15.4%Peak-to-current

+7.8%Year-over-year

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Jacksonville annual home value growth

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Zillow Home Value Index, Jacksonville area cities

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Jacksonville For-sale Inventory

-56.2%Peak-to-current

-11.5%Year-over-year

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Inventory shortage is no longer only due to negative equity.

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Jacksonville metro, negative equity 2016 Q3

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Mortgage rates are historically low

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Rents are pushed to the limit

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Jacksonville metro rents are most expensive in suburban areas

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A bird’s eye view with ZIP code level data

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Jacksonville metro home growth more aggressive in urban areas

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A different pattern for home values: a growing premium on access

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Similar trends in other metros: sacrificing distance for affordability

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Jacksonville metro housing affordability

Mortgage Affordability, 2016 Q4 Rent Affordability, 2016 Q4

Share of income spent on mortgage Share of income spent on rent

15% 28%

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Main takeaways• Housing is intimately tied to many other aspects of our lives and our motivations

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• Expert interview with an economist can help you connect the dots– We’re everywhere these days– Not everything is measurable, sometimes understanding comes down to years of familiarity with how markets and economies work.

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Over 50 available metrics…

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A wide world of housing data• Different levels of geography

• Different methodologies for the same metric

• Different numbers for what should be the same thing…in a perfect world

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Rent data

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