Housing Markets With The Highest Price Increases

Home prices
The demand for Florida real estate has shown in its price increases.

Did you know? According to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI), U.S. home prices rose 8.4% year-over-year between Q4 2021 and Q4 2022. Not surprisingly, the rate of price growth has been slowing down substantially over the recent quarters and months. For example, when comparing Q4 2022 to Q3 2022, home prices rose by just 0.3%. When comparing the month of December to November, the seasonally adjusted monthly index reflected price decreases of 0.1%. Interestingly, the State of Florida has bucked this trend and saw the highest price increases of any state in the country with average gains of 15.2%.

Florida metros with the highest Q4 2022 home price increases

  • 1. North Port-Sarasota-Bradenton: Up 20.1% year-to-year, 0.7% quarter-to-quarter
  • 2. Fort Lauderdale-Pompano Beach-Sunrise: Up 18.2% year-to-year, 0.9% quarter-to-quarter
  • 3. West Palm Beach-Boca Raton-Boynton Beach: Up 17.8% year-to-year, 0.4% quarter-to-quarter
  • 4. Orlando-Kissimmee-Sanford: Up 16.9% year-to-year, 0.6% quarter-to-quarter
  • 5. Cape Coral-Fort Myers: Up 16.2% year-to-year, 0.9% quarter-to-quarter
  • 7. Tampa-St. Petersburg-Clearwater: Up 15.8% year-to-year, down 0.1% quarter-to-quarter
  • 14. Miami-Miami Beach-Kendall: Up 13.3% year-to-year, 0.0% quarter-to-quarter
  • 31. Jacksonville: Up 10.4% year-to-year, down 1.8% quarter-to-quarter


The FHFA HPI measures all 50 states and over 400 American cities. Therefore, it is considered to be one of the best indicators for changing home prices across the country. Given the persistently strong interest in Florida real estate, we saw the largest price gains in The Sunshine State. As for the top 5 states with the highest price gains, they were as follows:

  • #1. Florida: +15.2%
  • #2. North Carolina: +13.4%
  • #3. South Carolina: +12.9%
  • #4. Hawaii: +12.8%
  • #5. Maine: +12.2%

Of course, the most recent month-over-month sales data has certainly indicated a slowdown. Moving forward, it is not unrealistic to expect a stabilization in home prices in even the hottest markets. Fortunately, South Florida continues to be one of the most desirable markets to relocate to in the country. Are you ready to change your latitude? Contact Natasha at Live South Florida Realty, Inc. today! Also, don’t forget to download the free Florida Home Search app for your mobile device!

By natasha moore

REALTOR® with Live South Florida Realty, Inc.