In this analysis of the market value of homes based on the four regions of the country, we found:

1. Homes in the West have always enjoyed a higher market value than the three other regions of the Country. The difference between the average value of homes in the West as compared to the homes in the North East over the past decade stands at 15%.
2. Homes in the North East have on average enjoyed the second largest market value over the same time period between 2005 and 2014.
3. The South now comes in third in terms of average market value beating out the Mid-West. What is interesting to note here is that homes in the South used to be dead last in terms of the market value in the mid 2000's but that began changing after 2007.
4. Finally we find that homes in the Midwest on average have had the lowest market value - we think that this had a lot to do with the decline of manufacturing jobs.

Additionally what we find is hat there is has been little or no appreciation in average market value of homes in any of these regions:

1. Homes in the West declined 8.4% in market value from 2005 to 2014.
2. Homes in the North East saw a 2.6% decline in their market value.
3. In the South average home prices actually showed a modest increase of 3.1%
4. And finally in the Midwest the average market value of a home registered a very tepid increase of 1.3%

When we overlay this analysis with the population and household statistics summary of Kent county, it is not surprising at all to see that the state of Michigan hasbenefited slightly from folks moving into mid-west.. The increase in population of 6.7% over 35 years in Michigan and over 27.1% in Kent county during the same time period is a validation of the larger national trends being seen in housing.

Quick Links:

1. Go to the Corresponding Template section for this industry.
2. Go to the Corresponding Questionnaire section for this industry.