May 29, 2024 - Economy
Mapped: Where home prices are rising in the U.S.
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U.S. home prices show no signs of slowing, despite mortgage rates hovering near 7%, per the latest data from the Federal Housing Finance Agency.
Why it matters: That's good news if you own your home and tough if you're a would-be buyer on the sidelines.
Zoom in: Nationwide, prices are up 6.6% from last year, per the FHFA.
- Some regions are hotter than others: Vermont saw the highest home appreciation in the country with a 12.8% increase. New Jersey (11.6%) and New York (10.9%) weren't far behind.
- Prices declined in Washington, D.C.
The big picture: Low housing inventory is contributing to the high prices, said FHFA's Anju Vajja, in a statement.
- You can thank rate lock for that.
