Why the housing market is down!

Sex Offenders Could Affect the Value of Your Home

The results of a study evaluating the impact of sex offenders who live in a neighborhood and their impact on property values has just been released.

The study, specifically, focused on Mecklenburg County. Compared to other states, North Carolina has a good record for keeping track of registered sex offenders. In Mecklenburg County, there are more than 500 registered sex offenders.

The two economists who conducted the study monitored home sales in the county for one year. They tracked where sex offenders moved in and out of neighborhoods. According to their study, the resell value of a home decreases if a sex offender lives within one-third of a mile of the home.

In Mecklenburg County, home values dropped about 4-percent in neighborhoods with registered sex offenders. For example, a home valued at $150,000 lost about $6,000 of its value due to the presence of a sex offender who lived down the street.

Researchers found that sex offenders are responsible for a $58 million decrease in property values in Mecklenburg County.

No wonder homes across the nation are not selling!