Blue States See Higher Home Value Appreciation, Study Finds

Home value appreciation has shot up more in blue states than in red states since the last midterm election.

By Rose Driscoll (Patch Staff) November 7, 2014 at 12:05pm

Homeowners in blue states saw more value appreciation since the last election than than those in red states, according to a Zillow study published on Monday.

Home values in liberal-leaning states have risen 17.8 percent since the last election, while those in conservative-led states have risen a more modest 8.9 percent.

So can you turn your home value around in the next vote? Not likely. The cause of the appreciation is not liberal leanings but location — most blue states are large, coastal and host to the nation’s largest cities.
Zillow blogger Emily Heffter also pointed out that home values in blue states have more ground to make up.
“Red states avoided the worst of the housing market crash,” Heffter said. “That meant that [blue states] had a bigger bounce back up.”

What if you live in a swing state? Your home value appreciation likely falls somewhere in between: Zillow found an average of 14 percent for “purple” states.