From 2005 to 2016, the median property value in North Dakota increased by 103 percent. The average annual 6 percent growth was the highest in the nation. Conversely, home values in Nevada plummeted during the same time frame, declining 16 percent, or 1 percent annually.
The NAR’s Economists’ Outlook blog looked at states’ property values from the American Community Survey (ACS) over the last decade and sorted by region.
Northeast states had the lowest growth, and Midwest states, aside from North Dakota, only fared moderately better. The South had nine states with 40 percent growth or more, led by Louisiana at 56 percent. Ten of the 13 West states had growth of 29 percent or more.
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