The following is a list of the top 7 states with the highest percentage gain in the cost of a home in the past year
1. Florida
Year-over-year increase in home prices: 31.8%
Florida has seen a steady increase in population over the decades. Currently, more than 22 million people call the Sunshine State home.
2. Tennessee
Year-over-year increase in home prices: 25.8%
Tennessee’s population also has grown in recent years, most notably around Nashville as more businesses moved to the area.
3. Arizona
Year-over-year increase in home prices: 24.9%
Arizona has seen recent growth in its population as more people move to the state from expensive areas like California.
4. North Carolina
Year-over-year increase in home prices: 24.7%
As more people move to North Carolina, competition for housing grows. Workers from expensive places such as New York are moving to more affordable areas now that they can work from home.
5. South Carolina
Year-over-year increase in home prices: 23.5%
Areas along the coast of South Carolina are seeing faster price increases compared to their inland neighbors. That includes Myrtle Beach and Hilton Head.
6. South Dakota
Year-over-year increase in home prices: 22.9%
South Dakota is attracting workers who want more space now that they can work from anywhere they want.
7. Georgia
Year-over-year increase in home prices: 22.9%
The city of Atlanta has been an attractive stop for new residents for many years. Georgia as a whole is rebounding after the pandemic, with an increase in jobs and a growing economy driving up housing demand.
