Home Prices Are Rising Fastest in These Cities, and Not Where You Might Expect

Aerial View of Suburban Landscape


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Aerial View of Suburban Landscape

Southern Migration

Home prices are still rising in many U.S. cities despite higher mortgage rates pricing many potential buyers out of the market, according to data from the National Association of Realtors. Though you might expect home prices to continue to accelerate in competitive markets in California or New York, most of the metro areas with the largest increases in year-over-year home values in 2022 were in the South, attracting homebuyers seeking warmer climates and greater affordability. Those cities dominated the list of the Top 10 hottest housing markets in the U.S., as ranked by the annual change in median home price.

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Beach and Buildings in Daytona Beach, Florida on a Sunny Day
Sean Pavone/shutterstock
Bayshore Live Oak Park, Port Charlotte, Punta Gorda, Florida During Sunset
El Paso, Texas
Winston-Salem, North Carolina, USA Downtown Skyline

7. Winston-Salem, North Carolina

Median home price: $285,200

Growth: 15.7%

Oshkosh, Wisconsin

6. Oshkosh-Neenah, Wisconsin

Median home price: $220,700

Growth: 16%

Myrtle Beach, South Carolina, USA Skyline
Sean Pavone/istockphoto

5. Myrtle Beach-Conway, South Carolina

Median home price: $373,500

Growth: 16.2%


4. Greensboro-High Point, North Carolina

Median home price: $276,100

Growth: 17%

Naples, Florida, USA Town Skyline
Sean Pavone/istockphoto

3. Naples-Immokalee-Marco Island, Florida

Median home price: $802,500

Growth: 17.2%

Aerial view of beautiful Downtown Sarasota, Florida
Ryan McGill/istockphoto

2. North Port-Sarasota-Bradenton, Florida

Median home price: $520,000

Growth: 19.5%

Farmington, New Mexico

1. Farmington, New Mexico

Median home price: $261,200

Growth: 20.3%