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U.S. single-family home prices, as measured by the Freddie Mac House Price Index (which uses the repeat-sales methodology), rose 3.9% in the calendar year 2024. During that same timeframe, overall U.S. consumer prices rose 2.9%.
Among the 384 metro-area housing markets that the Freddie Mac House Price Index tracks dating back to 1975, these are the 10 metros that saw the biggest year-over-year home price increase in 2024:
Kingston, New York: +13.5%
Springfield, Ohio: +11.8%
Glens Falls, New York: +11.7%
Binghamton, New York: +11.5%
Cumberland, Marylandd-West Virginia: +11.4%
Syracuse, New York: +10.9%
Utica-Rome, New York: +10.5%
Atlantic City-Hammonton, New Jersey: +10.5%
Jacksonville, North Carolina: +10.3%
Vineland-Bridgeton, New Jersey: +10.3%
Among those same 384 metro-area housing markets, these 10 metros saw the biggest year-over-year home price decline in 2024:
Punta Gorda, Florida: -8.6%
Cape Coral-Fort Myers, Florida: -7.6%
North Port-Sarasota-Bradenton, Florida: -4.7%
Homosassa Springs, Florida: -3.3%
Sebastian-Vero Beach, Florida: -3.2%
Lakeland-Winter Haven, Florida: -2.7%
Austin-Round Rock-Georgetown, Texas: -2.5%
San Antonio-New Braunfels, Texas: -2.3%
Ocala, Florida: -1.9%
Crestview-Fort Walton Beach-Destin, Florida: -1.8%
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The map above shows the year-over-year change in metro-area home prices from December 2023 to December 2024.
The map below shows how metro-area home prices at the end of 2024 compare to that respective market’s peak in 2022.
For example, while home prices in the Austin metro area are down 2.5% year over year, the market is also 15.8% below its 2022 peak, according to the Freddie Mac House Price Index.
Click here to view an interactive version of the map below.
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While some Western markets (which saw most of their declines in the second half of 2022) and Southern markets are still below their peak 2022 pricing, every market in the Freddie Mac House Price Index remains above March 2020 levels.
National home prices, according to the Freddie Mac House Price Index, are 48.5% above March 2020 levels. During that same timeframe, overall U.S. consumer prices rose 23.1%.
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ResiClub’s monthly home price tracker and housing inventory tracker (with data on more than 800 metros/micro areas and more than 3,000 counties) have closely detailed these regional trends.
