Across the U.S., home prices are rising, but some markets have observed stronger appreciation than others. According to insight from housing data tracker Resi Club Analytics, national housing costs rose more than 1.15% between March and April 2024. Although appreciation this spring remains close to the average—0.95% since 2000—for this time of year, the nation’s top 250 largest markets saw marked variations. Housing markets that secured the top spots for appreciation were located across the country. The markets observing the weakest appreciation, however, were all in Florida.
The strongest housing markets this year are pockets of the Midwest and Northeast where active inventory for sale remains far below pre-pandemic levels, and markets like San Francisco and San Jose, where the AI stock boom is spilling over into the housing market.
The weakest housing markets are in Florida, which has seen the nation’s biggest spike in inventory over the past year. That shouldn’t be surprising to ResiClub PRO readers, given the Lance Lambert Inventory Tracker has been showing softness across Florida, in particular, Southwest Florida, for months.
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