Peoria, Illinois experienced a significant price surge of 19.6%, while Chattanooga, Tennessee-Georgia saw an increase of 18.2%. Fond du Lac, Wisconsin showed a notable rise of 17.6%, with Cleveland-Elyria, Ohio not far behind at 16.4%. Bismarck, North Dakota witnessed a price uptick of 15.8%, followed by Akron, Ohio at 15.5%. The momentum continued in Blacksburg-Christiansburg, Virginia, with a 15% increase, and Canton-Massillon, Ohio, showing a solid rise of 14.9%. The standout performer was Jackson, Mississippi, where home sales prices soared by an impressive 28.7% in the fourth quarter of the previous year, topping the list of 226 surveyed metro areas.
Nationwide, the median price of a single-family home increased by 4.8% to reach $410,100 compared to the same period last year. Over the span of 2019 to 2024, the median home price surged by an impressive 49.9%, as reported by NAR. Notably, the most expensive housing markets are found in California, particularly in San Jose, where the median home price nearly reaches $2 million.
