According to the national home price index, there was a 18.8% growth rate between December 2020 and December 2021. In the 34 years this data has been tracked, this is the highest calendar year increase ever. In the final quarter of 2021 housing prices still increased quite a bit, but not as quickly as they had in the earlier quarters of the year. During 2021 all 50 U.S. states and the District of Columbia house prices rose. The top five states with the highest annual appreciation were Arizona, Utah, Idaho, Florida, and Tennessee. Specifically, the area with the highest annual price increases in the country was the Cape Coral-Fort Myers area with a 34.6% increase according to the FHFA’s House Price Index. Home buyers in entry and mid-level markets can expect to see the biggest effect of these home price increases with the low level of inventory even as mortgage rates continue to tick upwards.
Connect With Us
