Data on approved housing units and their valuations by state is from the U.S. Census Bureau Building Permits Survey. The analysis considers data from January to December 2018. State population, median income, and employment were obtained from the U.S. Census Bureau 2017 and 2012 American Community Survey 1-Year Estimates.
To calculate the number of new housing units per 10,000 residents, the total number of housing units per state was divided by the population in the given state and then multiplied by 10,000.
The new vs. existing home value was calculated as the percentage difference between each state’s average unit value and its Zillow Home Value Index.