Pleasant weather comes with a premium

Pleasant weather comes with a premium

Paying for sunshine is one way to look at it. In an analysis of federal weather data, Zillow estimated the number of “pleasant days” per year for every city in the U.S. The result of the analysis confirm the conventional wisdom: regions with the best weather also tend to be more expensive places to live. California dominated the top of the list with coastal towns ranking at the top.

Ventura was recorded to have over 300 pleasant days per year, followed by San Diego at 276 and Santa Barbara at 266. These housing markets also have a median home price that is more than double the national median.

Of course, weather isn’t the only factor determining home prices. The notoriously rainy Seattle and the harsh winters of New York - both places with pricey homes - were not greatly impacted by their less-than-pleasant climates.

Today, conforming no-point 30-year fixed mortgage rates are averaging 3.625 percent and 15-year rates are near 3.125 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.