top of page

U.S. Cities Whose Home Prices Rose or Fell the Most in 2022

2022 was an absolute rollercoaster for the real estate market. The extremes your area experienced may have varied, but some cities across the U.S. saw unprecedented pricing increases, and all of the fluctuations may have been a real challenge if you were or are in the market to buy or sell a home. Many markets are now cooling and or stabilizing, but we highly recommend always talking with a local REALTOR® who knows the local market best for insight on where you live.


To see where home prices rose and fell the most, Realtor.com used the following formula, "To determine our rankings, we looked at the year-over-year change in the median price per square foot for the 100 largest metro areas in the country on Realtor.com, from mid-December 2021 to mid-December 2022. Then we pulled out the five markets with the biggest year-over-year increase and the five markets with the biggest decrease. We limited our rankings to only the single largest increase and decrease per state, in order to ensure geographic diversity. (Metros include the main city and surrounding suburbs, towns, and smaller urban areas.)" Keep reading below to see the rankings!


Biggest Price Increases of 2022


Omaha, Nebraska


*Year-over-year change in price per square foot: +21.6% *Mid-December 2022 median listing price per square foot: $181 *Mid-December 2022 median listing price: $342,500


Jackson, Mississippi


*Year-over-year change in price per square foot: +21.6% *Mid-December 2022 median listing price per square foot: $144 *Mid-December 2022 median listing price: $316,000


Wichita, Kansas


*Year-over-year change in price per square foot: +21.5% *Mid-December 2022 median listing price per square foot: $135 *Mid-December 2022 median listing price: $289,900


Milwaukee, Wisconsin


*Year-over-year change in price per square foot: +20.9% *Mid-December 2022 median listing price per square foot: $204 *Mid-December 2022 median listing price: $374,900


Little Rock, Arkansas


*Year-over-year change in price per square foot: +20.1% *Mid-December 2022 median listing price per square foot: $142 *Mid-December 2022 median listing price: $299,900


Biggest Price Decreases of 2022


Boise City, Idaho


*Year-over-year change in price per square foot: -5.8% *Mid-December 2022 median listing price per square foot: $263 *Mid-December 2022 median listing price: $509,900


Denver, Colorado


*Year-over-year change in price per square foot: -5.7% *Mid-December 2022 median listing price per square foot: $280 *Mid-December 2022 median listing price: $599,990


Sacramento, California


*Year-over-year change in price per square foot: -3.1% *Mid-December 2022 median listing price per square foot: $328 *Mid-December 2022 median listing price: $591,500


New Orleans, Louisiana


*Year-over-year change in price per square foot: -2.7% *Mid-December 2022 median listing price per square foot: $179 *Mid-December 2022 median listing price: $325,000


Chicago, Illinois


*Year-over-year change in price per square foot: -1.6% *Mid-December 2022 median listing price per square foot: $188 *Mid-December 2022 median listing price: $320,000



Source:


https://www.realtor.com/news/trends/here-are-the-u-s-cities-where-home-prices-rose-and-fell-the-most-in-2022/?identityID=5b61da44b0162aca25000040&MID=2023_0103_ArticleNL&RID=5526101382&cid=eml_promo_Marketing_NonPRSL_ArticleNL_cons.16041982_2023_0103_ArticleNL-hero-blogs_trends

1 view0 comments

Comments


bottom of page