Red home, blue home
In a newly released special political housing analysis, ATTOM Data Solutions reported that there appears to be a correlation between a home’s value and whether it is in a Democrat or Republican controlled county.
According to the study, homes in Democrat-controlled counties around the nation appear to be worth 75 percent more than those in Republican-controlled counties. Homeowners in Democratic areas are also more likely to have more equity in their property.
Conversely, homeowners in Republican-controlled districts pay, on average, less in property taxes - $2,676 compared to $5,127 on average in Democrat-controlled districts. Republican counties tend to have fewer homes in foreclosure.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.25 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.