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Home prices are on the rise again after declining for the second half of 2023, with 93% of all major metro areas posting gains so far in 2024, a National Association of Realtors® report reveals.
Roughly one-third of the 223 major metro markets NAR examined had a double-digit price increase in the first three months of 2024.
The surge in prices is largely due to pent-up demand for homes, says Lawrence Yun, NAR’s chief economist. “In the current market, rising prices are the direct result of insufficient housing supply not meeting the full demand,” Yun says.
Here are the 10 metro areas where home prices have increased the most so far in 2024.