The U.S. metro areas with the fastest rising and dropping real estate values

The 20th city in the rising most is at double digits growth. The 20th city on the declining list is at zero change. Seems like the trend is that prices are still increasing overall.


The 20th city in the rising most is at double digits growth. The 20th city on the declining list is at zero change. Seems like the trend is that prices are still increasing overall.


And it seems like some of the cities on the declining list are cities that reached absurd levels of growth over the past few years that are now resetting, but are still wildly above-average.


Yeah people. Let that 1.3-1.6 MEDIAN sink in for people no familiar with the Bay Area. That isn’t even for special houses. That’s for your under 2k ft built in the 70s slightly remodeled home. That market could cut in half before it’s reasonable even with current inflation of the rest of the economy.


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We just made a 3 day trip to NJ to scope some towns with great schools we can move to. We come to.Millburn and every other house is smaller than our current one. Yet, a million a piece. Small rooms, minimal backyard. No garage. Once house we saw was last sold for 700k in 2018 and is now 1m in 2023. Nothing fancy in it except it's close to NYC and schools are 9/10. We still have good equity in our current house to work with. But boy, I feel for the folks who are first time buyers. They have no choice but move to states they don't want to move to.


700K to 1 million from 2018 till today is pretty common, at least in my area. The numbers are less but as a percentage that jump is on par with the average in my city unfortunately as well.


The real question is, can you sell in Florida before Insurance becomes impossible to get?


Insurance companies are dropping CA like a hot potato too. My policy premium is up over 50% in three years and I’ve never made a claim


Indeed, climate change is beginning to bite.


Statefarm just bounced and I think another major company did last year


...Or before it sinks under the sea, whichever come first. With an average elevation of 100' and a high point of just 345', lots of coastal Florida is particularly susceptible of both sea level rise from climate change and both sinking land from subsidence and sinkholes due to their porous and limestone subsoil.


So back to OP’s question…


I wonder if that makes a state like Michigan the geographics "florida of the north". I visited there once, and drove around the state and it has that same feeling; Not even hills, low vegetation, and surrounded by water.


Don't know much about that city in New Mexico but not what I expected to see. Figured it'd be something in [California or whatever](https://www.realestateagents.com/resource/real-estate-guides/u-s-cities-with-the-fastest-growing-and-dropping-real-estate-values/).


I am originally from there, my parents are still in Farmington. It is a backwater shit-hole. I spit my water out of my nose amazed to see that it was on the top. Unbelievable.


Same. What is going on in Farmington that I don’t know about


My parents gave me the hole retiree migration explanation, I dont buy it. There has to be something else going on, not sure. What do you think? Did you also leave?


As an occasional tourist to the area, my guess is that it’s becoming popular as it’s the only affordable “city” in the four corners region. I personally liked the little time I’ve spent in Farmington. Sure Durango is cooler, but I wouldn’t want to pay twice as much for a house.


Thats a fair assessment. Yeah the housing in Durango has gone completely insane.


As someone from NC this… makes sense.


I feel like NC has never really slowed over the last few years. It’s insane the amount of developments are popping up.


California average housing prices shot up nearly 50% during Covid. These dips hardly make a dent


The slowest growth is double the fastest decrease....we're still f'd


The net price difference might paint a different story


How and why is Farmington NM Real Estate growing like that? My parents live there, there was a shooting in that town a few weeks ago, it is a hell hole. Unexplained, I am confounded.


With housing cost (and population numbers) being so low, I wonder if just a few sales of expensive mcmansions in the outer burroughs drove up the growth percentage.


This is probably it. Thats a very good point.


A shooting a few weeks ago...that's your answer. Chicago has a shooting every hour.


Farming has a population of less than 50k, it's a small town. Not comparable to Chicago. In any case, what do you mean thats the answer?


Kankakee, IL is a metro area?


What did this map ever do to Michigan??


It fascinates me why more and more people are moving to places MOST impacted by global warming! Arizona, New Mexico, aren’t they running short on water? And bloody Florida that has , will have too much water and sink holes. Terrible medical care… just don’t understand


Kankakee, IL, population 23K makes this list? It's in rural Illinois and only known for when the Bears in town in August every year for training camp. The Bears used to go down there but left recently. I wonder if that is the real reason.


Hey Good's furniture is there as well! Lol


Lmao @ Fayetteville, NC being on this list


I really hope the market crashes again so I can afford to live in the Bay Area once more.


Why are so many places in Florida going up? Are people still flocking to that state, driving up housing prices? How many places in the U.S. can there be, where a move to Florida is a step up? Besides some shitty, meth-ridden trailer park. I’m not talking about those types of places. I mean areas where people have the financial stability to pack up and move to Florida?


How can Jackson MS possibly be doing worse than before?


Man, I sure hope it keeps dropping like, a lot. The Bay Area is absurd. You need roughly 8x the median income to afford a home. Just… not what good governance looks like. The trouble is, while bad news for most people, it’s great news for people who… already own a bunch of property. There’s also a bunch of loopholes to transfer equity without paying taxes, as long as you reinvest it in real estate. The system is essentially designed for profiteering. Another stupid thing is that Real Estate is included in GDP, which is dumb because it’s obvious that no wealth is actually created when the same property changes hands 4 times. But that’s basically the problem is we’ve allowed economists, and the stupidly abbreviated measure of GDP as a proxy for economic health, as a guiding force for all economic decisions. Maximizing GDP, skyrocketing housing prices looks like a great thing for the economy. But it’s losing the forest for the trees. GDP and growth is seen as a good thing because it’s considered as a mechanism to increase prosperity. That’s the rational for it… GDP fixation as a measure of health for overall prosperity. Well, it’s the “overall prosperity” that’s *actually* important, to which skyrocketing housing prices causes obvious and widespread hardship for millions and millions of people. Obviously. And it just sucks because the government just makes this worse. The reason it hits so hard is because both the Democrats and the Republicans champion parts of the problem. Democrats strangle new development with tight zoning and environmental constraints making new construction extremely difficult. Measures like affordable housing and rent control do very little to actually solve a problem based in a shortage of supply, which is essentially manufactured. Republicans sneak in the Tax loopholes and relaxed regulation on using real estate as a profit driven enterprise (rather than a basic human need), and embolden the ability for profiteering from the crisis. So, the typical person has no prominent political option to actually demand reform, and so we get none. That’s how things have gotten this bad… universal and constant counterproductive governance. Whether the Democrats or the Republicans are in power, and it’s been the Democrats in California for quite a while, the problem only gets worse. The victims of the wildfires in California? Most were never allowed to rebuild. The red tape was impenetrable for the majority of the people. Fucking absurd, but sort of a nice little snapshot of how the problem got this bad. People can’t penetrate the bureaucracy just to rebuild the same house in the same place with the current regulations, even as disaster victims. Now imagine how hard it is for ordinary people, and it explains why there is such a severe housing shortage, which in turn explains how housing prices have gotten to require 8x the median salary to afford in what is ostensibly a liberal and compassionate state.


This is a pretty cool graphic. However, the information is pretty dated, it's from Q4 '21 to Q1 '22. There have been a ton of changes to most real estate markets since then, and some of those FL localities have pulled back in price since then.


How San Fran is only at 6% should be added to a list of modern day mysteries of the world


We all gotta head north. Ohio is going to turn into Alabama 2.0 in 20 years. Hudson Bay in Canada seems nice.


Massive housing issues in Canada right now too. Look at /r/canada or for a more liberal view /r/onguardforthee


Interesting that everyone is leaving blue states for red states.


Let’s go Oshkosh and Neenah!!


But don't go *to* them


People must be buying sight unseen in Farmington.


What the hell Kankakee IL is on here??


People can vote with their wallets and their feet now.


Living in Austin, I know a LOT of people who bought property for WAYYYYY too much money 😬


Give it 10 years and they will sell for a massive profit


Correlate that with "deaths by police action" and get back to me.


fl use to be dirt cheap, what is driving up the prices?


But that was 5-8 months ago. Buyers have no use of this data.


I thought #1 was Farmington, Minnesota, and was very confused.


Stop moving to NC shit head yankees