Buying a House: Over the Years

In this project, we will explore the ever-changing housing market in the United States, including the current price of houses (and how that has been changing), homeownership rates, general market trends, construction indexes, and more. Hope you enjoy!

SA State Housing Index

This graph demonstrates how the SA_Index changes in each state over time. As you can see, the general trend is that the index is increasing. This means housing prices are increasing, even with adjustments for inflation.

Housing Market over Time by State

This graph also shows that the general trend for the SA_Index in each state is increasing. As you can see, each state's SA Index decreases slightly after the year 2008, which can be accounted for by the Subprime Mortgage Crisis that occurred during this time.

Construction Index

This graph compares the deflator index of newly constructed houses over time. As you can see, as time goes on, their index increases, meaning that housing prices are increasing even with adjustments for inflation.

House Price by State

This graph shows the median home value in each state. As you can see, housing prices are the highest in the state of Hawaii. This is likely because the demand for houses is greater than what actually be provided and because costs to build are greater since materials must be shipped overseas.

Median House Price, Median Mortgage

As you can see, there is an evident correlation between Median House Price and the percentage of the income for which one's mortgage payment is used. For instance, in states where the Median House Price is greater, one should expect to pay more of their annual income.

Change in Homeownership by State

This graph shows the percent change in homeownership in each state. States that have a negative percent change indicate that homeownership among the state's residents has decreased.

Homeownership Rate and Change

The general trend in homeownership rates is that they are decreasing. Even in states with homeownership rates are high, most seem to exhibit a negative percent change.

Homeownership Rate and House Prices

This graph shows that states with lower housing prices tend to have greater rates of homeownership.