Most Popular Design Style in Every State According to Instagrammers

The most popular interior design style in every state

State-by-state, the most popular design style in the US is #coastalliving. Eighteen states use this hashtag more than any other to describe the interior of their home. It’s no surprise that these are all sea-facing states. However, the east coast favors the style more than the west.

Instead, the west coast states of Washington and California prefer #midcenturymodern. In fact, this is the second most popular style in the States. The ‘new retro’ look of mid-century modern feels both classic and contemporary, allowing amateur interior designers to cherry pick their favorite details from a century of interior design.

Hashtags are still as important as ever! As more and more millennials become homeowners, there is one app that they're taking to in droves to share their new home designs using different hashtags: Instagram. Currently, there are 91.4 million #interiordesign posts on the app.

When young homeowners redesign spaces inside their residence and share the finished product on Instagram, they often include a hashtag that best describes the new design style they've chosen—whether it be #modernhome, #rusticdecor, #coastalliving or a host of other styles.

Until recently, it hasn't been possible to accurately track which hashtags are most popular state-by-state. However, the data scientists at Angie's List were successful in creating a program that can scrape data from Instagram posts to determine which state they were posted in.

In a recently-released study, Angie's List reveals the most popular interior design style in each state based on Instagram hashtags and location data.

The results? The most popular design style in the U.S. is #coastalliving, with a total of eighteen states using the hashtag more than any other to describe the interior of their home. 

See the rest of the study!

A Strong Force in the Housing Market: Single Women

The number of single women purchasing homes continues to increase year over year.

While married couples still represent the largest group of homebuyers at 63 percent, unmarried women are buying homes at double the rate of unmarried men—comprising 18 percent of the market, compared to men’s nine percent.

Interestingly enough, single women are also purchasing homes with the lowest household income of all buyers at an average of $65,000. Women tend to view their purchase as more than an investment—placing a high value on the opportunity to make a home truly their own. 

Research from the National Association of Realtors® (NAR) indicates women make significant efforts to achieve the goal of homeownership, with 46 percent reporting having made financial sacrifices in order to afford a home—cutting spending items such as entertainment and clothing. Statistics also show women are more willing to buy entry-level and starter homes.

Women tend to put a higher value on the neighborhood they’re purchasing in—particularly its proximity to relatives, friends and health facilities, while also prioritizing outdoor space. Single women are gravitating toward certain geographic areas as well. According to the NAR, the top 10 metro areas with the highest gap of homeownership rate between single women and men are as follows:

• Oxnard, CA—15%

• El Paso, TX—15%

• Durham, NC—14%

• San Jose, CA—13%

• Colorado Springs, CO—12%

• Jackson, MS—12%

• Chattanooga, TN—11%

• Lakeland, FL—11%

• Tucson, AZ—11%

• Columbia, SC—11% 

Additionally, many single-women buyers are caregivers, as 20 percent have children under the age of 18, and 12 percent purchased multi-generational homes in order to care for aging parents or accommodate children over 18.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Increased Remote Work Opportunities May Make Suburbs More Desirable

Where people choose to live has traditionally been closely tied to where they work, which has helped push home values up very strongly in fast-growing urban job centers — especially on the coasts — and has led to housing scarcity and affordability concerns in several cities.

But the post-pandemic recovery could mitigate or even produce the opposite effect and drive a boom in secondary cities and exurbs, prompted not by a fear of density but by a significant shift toward remote work. 

Now that more than half of employed Americans (56%) have had the opportunity to work from home, a vast majority want to continue, at least occasionally, according to a recent Zillow survey conducted by The Harris Poll. Among Americans working from home because of the pandemic, 75 percent said they would prefer to continue to do so at least half the time, if given the option, after the pandemic subsides.

And two-thirds (66%) of those employees said they would be at least somewhat likely to consider moving if they had the flexibility to work from home as often as they want.  Recent Zillow research suggests more Americans are at least looking at their housing options. In mid-April, page views of for-sale listings on Zillow were 18 percent higher than in 2019.  

Still, only a quarter (24%) of Americans overall said they thought about moving as a result of spending more time at home because of social distancing recommendations. 

Prior to COVID-19, only 7 percent of civilian workers in the United States had the option to work from home as a workplace benefit, according to the Pew Research Center, though 40 percent worked in jobs that could potentially be performed remotely.

Space Seekers

Many employed Americans are trying to square the desire to work remotely with the functionality and size of their existing homes. Among employees who would be likely to consider moving if given the flexibility to work from home when they want, 31% said they would consider moving in order to live in a home with a dedicated office space, 30% said they would move to live in a larger home and 29% said they would move to live in a home with more rooms.  

Less than half (46%) of current households have a spare bedroom that could be used as an office, according to a Zillow analysis of American Community Survey data.  But that percentage drops off by more than 10 points in dense, expensive metros such as Los Angeles, New York, San Jose, San Francisco and San Diego, where far fewer homes have spare rooms.       

When it comes time to move, home shoppers who can work remotely may seek out more space — both indoor and outdoor — farther outside city limits, where they can find larger homes within their budget. 

Moving away from the central core has traditionally offered affordability, at the cost of time and maybe gas money. Relaxing those costs by working remotely could mean more households choose larger homes farther out, easing price pressure on urban and inner-suburban areas. However, that means they’d also be moving farther from the wide variety of restaurants, shops, yoga studios, art galleries and other amenities typically associated with denser, urban locales. Given the value that many residents place on access to these features, we’re unlikely to see a large-scale rise of rural homesteaders. Instead, future growth driven by widespread remote work opportunities would likely favor suburban communities or secondary cities that offer those amenities along with more spacious homes and larger lots.  

Computing the Commute

Previous Zillow research found renters, buyers and sellers overwhelmingly agreed that the longest one-way commute they’d be willing to accept when considering a new home or job was 30 minutes.  

This new survey from Zillow and The Harris Poll finds those priorities appear to change if people have the flexibility to work from home regularly. When given that option, half of those who are able to do their job from home (50%) say they would be open to a commute that was up to 45 minutes or longer.  

In most major cities, living close to downtown comes at a price. A previous Zillow analysis found in 29 of the nation’s 33 largest metro markets, buyers can expect to pay more per-square-foot for a home within a 15-minute, rush-hour drive to the downtown core. If buyers and renters are not burdened by a five-day-a-week commute, housing in the exurbs, secondary cities and remote bedroom communities may become more viable. 

Still, even with remote work as an option, only 10 percent of those able to do their job from home would consider a commute longer than an hour, debunking the theory that urbanites are now seeking out rural living as a result of the coronavirus.

For more info + data collection methodology, visit Zillow Research.

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How to Spot Potential Problems Early in The Homebuying Process

Finding your perfect next home can be a long and frustrating process. So when you’ve finally come across a home you love at first sight, it’s tempting to rush onward with the buying process.

But to avoid future heartache, it’s important to take a close look at the property and decide whether it really is the home for you. And it’s best to do this right at the start, before you become too committed emotionally and financially. Here’s what to do.

1) Walk Through the Entire Property

Walk through every room in the property, examining each one with a critical eye for detail. Keep a record of what you find, either using a notebook, or by using your smartphone to record you as you talk. This is important. It’s easy to forget about minor problems soon after you see them, although they could later give you serious misgivings when considered together.

What do you like about each room? What do you dislike? Realistically, will you need to renovate throughout soon after moving in, or can you live with the current condition and refurbish it a little at a time?

2) Check the Floors

In each room, check the condition of the flooring. Any problems here could be expensive to fix, so you need to take careful note. If there are carpets, are they in good, clean condition? Is any exposed hardwood straight and true? Are there any loose floorboards or signs of warping? Any flooring issues don’t necessarily need to stop you buying the property, but you need to account for them when deciding how much you’re willing to pay..

3) Look for Water Damage

In each room, check the ceilings, windows, doorways, and corners for any signs of water including drip stains, mold, or damp. Even the slightest sign should be a cause for concern, as fixing a damp or leaky home can be a long and expensive battle. If any water stains you spot look old rather than fresh, ask exactly what’s been done since they formed to prevent the issue recurring.

4) Check the Lights

In each room, turn on and off every light fixture. If there’s a problem, ask for an explanation. While a single blown light bulb is nothing to worry about, multiple blown bulbs or a full fixture that’s not working could be a sign of more serious electrical issues.

5) Check Doors and Windows

Open and close all the doors as you walk around the home. If any stick or won’t close properly, then it could simply be a warped door which is irritating but not too serious. However, if several doors have problems, there could be a deeper structural issue that needs investigating. If the weather allows, do the same for all the windows too. And while you’re checking, look for signs of damp or rot at the base of each pane of glass.

6) Check Out the Heating

Make sure you locate the heating system, whether it’s a basement furnace, a hot water heater, or otherwise. Check the main system for a service sticker, which will give you an idea of how long it has been installed and how energy efficient it is.

If the heating system looks old or is in any state of disrepair, ask for a formal service history before going any further. Replacing these items is expensive and disruptive, and you need to know exactly where you stand before committing to a purchase.

7) Check the Water

Next, check that all the faucets work in the kitchen, bathroom, and anywhere else they’re installed. Make sure they’re free from drips, and that the water runs clean without any obvious pollution. Also check that the toilets flush correctly, and that there are no signs of leakage around them or the sinks, tubs, and showers.

8) Domestic Appliances and Fittings

Ask which kitchen or bathroom appliances and fittings will be left behind. Are they in good enough condition to be useful to you? If not, make sure that they’ll be removed as part of the deal. They’re not your responsibility, and you don’t need the extra hassle when moving in. If you’re happy to keep whatever’s being left, make sure the appliances are working well, turning them on to check if necessary.

9) Check the Exterior

Walk around as much of the exterior of the property as you can, even if it’s just a balcony or terrace. Check for any obvious problems such as cracking in the window frames, which could be caused by foundation shifts. Any cracks or splits in the main structure should be a highly worrying sign, and so should any signs of damp or water damage that can’t be explained by ordinary weather.

Buying a home is a major step and it needs to be taken carefully. While any serious problems should show up in the home inspection or appraisal, at this point you may have become invested in the property and canceling your interest can be upsetting. Follow these nine tips and you should uncover most major problems right at the start, so you can back out as painlessly as possible.

To read more, visit the CORE Finance Group.

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Mortgage rates tumble to an all-time low

As recession reality sets in, investors pile into bond markets

The average rate for a 30-year conforming fixed-rate mortgage fell to a record low of 3.1%, on Thursday, according to data from Optimal Blue.

It came after a rocky ride that saw rates jump to a one-month high on the previous Friday, the day the government issued a report saying the jobless rate fell in May.

That rosy data – which didn’t give a true picture of the jobs market, according to the government department that issued it – sent investors piling into the stock market and sent bond yields soaring. Higher bond yields mean higher mortgage rates.

Then, reality set in. COVID-19 cases soared to new highs in states like Texas, Florida and Arizona, a few weeks after aggressive measures to reopen their economies.

And then investors read the footnote in Friday’s unemployment report that said the reported 13.3% rate, down from a record 14.7% in April, should have been three percentage points higher.

There was a “misclassification error” in the way laid-off workers were counted, the footnote said, including a “large number” of people who were classified as “employed but absent from work” when they should have been counted as unemployed.

If those people had been correctly counted, the May unemployment rate “would have been about 3 percentage points higher than reported,” the Labor Department said.

In other words, rather than falling to 13.3%, portraying a labor market on the mend, the unemployment rate would have risen to an all-time high of 16.3%.

“To maintain data integrity, no ad hoc actions are taken to reclassify survey responses,” the report said.

Once investors realized the labor market wasn’t as rosy as the headline number suggested, mortgage rates tumbled about a quarter of a percentage point to Thursday’s all-time low, according to Optimal Blue data.

Bad economic news sends investors piling into the perceived safe haven of the bond markets to snap up Treasuries and mortgage-backed securities. That cranks up competition for fixed assets and, thus, shrinks yields.

If you’re a mortgage applicant who locked your rate on the day of the report or shortly after, as rates spiked to a one-month high, you might want to think about calling your lender to ask about re-lock options.