Dallas Native News

Keeping Current: Home Price Changes

Posted by Dallas Native Team | Dave Perry-Miller Real Estate on

Percent change over the past year

  • Home prices nationwide rose 12.6% in the year ending in the first quarter of 2021, accelerating from the 10.9% rate in the year ending in the final quarter of 2020. A year ago, the year-ago rate for home prices was 6.1%.
  • In the first quarter of 2021, U.S. home prices rose at a 14.8% annual rate. That’s a deceleration from the fourth quarter’s 16.7% pace, which is the fastest quarterly increase in the 30-year history of the data series. During the last housing boom, the fastest annualized increase was the 11.0% pace set in the second quarter of 2005.
  • Over the past three years, home prices rose at a 7.9% average annual rate.
  • Over the past ten years, home prices rose at a 5.9% average annual rate.
  • Home prices in the first quarter were 41.4% higher than they were at their pre-recession peak in early 2007. In the fourteen years since that peak, home prices have grown at an average annual rate of 2.5%.
  • All data in this report reflect the prices of homes sold with conforming financing and are seasonally adjusted.

Federal Housing Finance Agency, House Price Index, seasonally adjusted quarterly data, May 25, 2021. Index based on the sales prices of homes financed with conventional conforming loans. These figures reflect only purchase transactions (no refinance transactions are included). Information is accurate as of May 25, 2021, and is subject to change without notice. www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx.

Percent change in home prices, by state

Growth over the
last year
Average annual growth
over the last 10 years
% Change % Change
USA 12.6 5.9
State % Chg Rank % Chg Rank
Alabama 10.5 41 – T 4.5 31 – T
Alaska* 10.5 41 – T 2.8 50
Arizona 17.4 3 9.5 3
Arkansas 11.8 34 3.8 41
California 14.3 12 – T 8.2 7 – T
Colorado 13.0 18 – T 8.4 6
Connecticut 15.9 5 2.5 51
Delaware* 13.5 16 3.3 44 – T
District of Columbia* 9.5 45 7.2 10
Florida 12.6 23 – T 8.6 5
Georgia 12.7 21 – T 7.0 12
Hawaii* 4.7 51 6.2 16
Idaho 23.7 1 10.3 1
Illinois 9.6 44 3.2 48
Indiana 13.1 17 5.4 20 – T
Iowa 8.8 46 4.0 37 – T
Kansas 12.5 25 4.7 30
Kentucky 11.4 35 4.5 31 – T
Louisiana 6.8 50 3.4 43
Maine 15.0 7 – T 4.9 28 – T
Maryland 12.4 26 – T 3.9 39 – T
Massachusetts 12.9 20 5.2 24 – T
Michigan 12.6 23 – T 7.1 11
Minnesota 11.3 36 – T 5.8 17
Mississippi 8.1 47 3.3 44 – T
Missouri 11.9 30 – T 5.2 24 – T
Montana 15.0 7 – T 6.4 14 – T
Nebraska 12.0 29 5.4 20 – T
Nevada 12.3 28 10.2 2
New Hampshire 16.2 4 5.4 20 – T
New Jersey 13.7 14 – T 3.3 44 – T
New Mexico 12.7 21 – T 3.9 39 – T
New York 12.4 26 – T 4.0 37 – T
North Carolina 13.0 18 – T 5.6 18 – T
North Dakota 7.5 48 4.5 31 – T
Ohio 13.7 14 – T 5.4 20 – T
Oklahoma 10.8 39 4.4 34 – T
Oregon 14.4 10 – T 7.8 9
Pennsylvania 11.9 30 – T 4.1 36
Rhode Island 14.4 10 – T 5.0 27
South Carolina 10.6 40 5.6 18 – T
South Dakota 14.7 9 5.2 24 – T
Tennessee 14.3 12 – T 6.4 14 – T
Texas 11.9 30 – T 6.5 13
Utah 19.2 2 8.7 4
Vermont* 10.1 43 3.3 44 – T
Virginia 11.3 36 – T 4.4 34 – T
Washington 15.8 6 8.2 7 – T
West Virginia* 11.9 30 – T 3.0 49
Wisconsin 10.9 38 4.9 28 – T
Wyoming* 6.9 49 3.7 42
Over the last year – Percent change from the first quarter of 2020 through the first quarter of 2021.

Over the last 10 years –– Average annual percent change from the first quarter of 2011 through the first quarter of 2021.

Percent change and rank are based on state data with seasonal adjustment for purchase transactions from the FHFA.

The “-T” designation means the state is tied at that ranking with at least one other state.

*Estimates for these states are not as statistically reliable due to the limited number of transactions: Alaska, Delaware, the District of Columbia, Hawaii, Vermont, West Virginia, and Wyoming.

Percent change in home prices in the Top 100 Metro Areas

Growth over the
last year		 Average annual growth
over the last 10 years
% Change % Change
USA 12.6 5.9
Metro Area % Chg Rank % Chg Rank
Akron, OH 13.0 52 – T 4.9 64 – T
Albany-Schenectady-Troy, NY 12.2 63 – T 3.1 95
Albuquerque, NM 13.1 50 – T 4.0 79 – T
Allentown-Bethlehem-Easton, PA-NJ 15.0 26 3.9 82 – T
Anaheim-Santa Ana-Irvine, CA  (MSAD) 12.4 59 – T 6.4 42
Atlanta-Sandy Springs-Alpharetta, GA 12.6 57 8.1 25 – T
Austin-Round Rock-Georgetown, TX 22.7 2 9.2 8 – T
Bakersfield, CA 12.3 62 7.1 36 – T
Baltimore-Columbia-Towson, MD 10.2 83 3.5 86 – T
Baton Rouge, LA 6.4 99 3.2 94
Birmingham-Hoover, AL 10.5 81 – T 5.4 57 – T
Boise City, ID 28.2 1 13.6 1
Boston, MA  (MSAD) 12.9 54 – T 5.5 54 – T
Bridgeport-Stamford-Norwalk, CT 17.0 10 2.7 97
Buffalo-Cheektowaga, NY 15.8 18 5.6 53
Cambridge-Newton-Framingham, MA  (MSAD) 14.8 28 – T 5.8 50 – T
Camden, NJ  (MSAD) 16.2 14 3.3 92 – T
Cape Coral-Fort Myers, FL 13.7 39 9.1 11 – T
Charleston-North Charleston, SC 10.1 84 – T 7.8 28
Charlotte-Concord-Gastonia, NC-SC 14.8 28 – T 7.4 33 – T
Chicago-Naperville-Evanston, IL  (MSAD) 9.6 90 – T 3.9 82 – T
Cincinnati, OH-KY-IN 14.6 32 – T 5.8 50 – T
Cleveland-Elyria, OH 13.3 44 – T 4.7 69 – T
Colorado Springs, CO 15.6 19 – T 7.6 31
Columbia, SC 9.1 93 – T 3.4 89 – T
Columbus, OH 13.2 46 – T 6.6 40 – T
Dallas-Plano-Irving, TX  (MSAD) 11.8 68 7.4 33 – T
Dayton-Kettering, OH 15.6 19 – T 5.5 54 – T
Denver-Aurora-Lakewood, CO 13.4 42 – T 9.1 11 – T
Detroit-Dearborn-Livonia, MI  (MSAD) 13.2 46 – T 8.5 21 – T
El Paso, TX 18.0 6 3.0 96
Elgin, IL  (MSAD) 10.7 77 – T 4.4 74 – T
Fort Lauderdale-Pompano Beach-Sunrise, FL  (MSAD) 10.6 79 – T 8.6 19 – T
Fort Worth-Arlington-Grapevine, TX  (MSAD) 11.7 69 7.2 35
Frederick-Gaithersburg-Rockville, MD  (MSAD) 14.8 28 – T 4.1 77 – T
Fresno, CA 13.6 40 7.1 36 – T
Gary, IN  (MSAD) 13.8 38 4.9 64 – T
Grand Rapids-Kentwood, MI 17.2 9 8.9 14 – T
Greensboro-High Point, NC 12.5 58 4.6 72
Greenville-Anderson, SC 10.9 73 – T 6.1 47 – T
Hartford-East Hartford-Middletown, CT 15.6 19 – T 2.1 100
Honolulu, HI -0.7 100 4.7 69 – T
Houston-The Woodlands-Sugar Land, TX 9.5 92 6.2 45 – T
Indianapolis-Carmel-Anderson, IN 14.2 37 6.6 40 – T
Jacksonville, FL 12.4 59 – T 7.5 32
Kansas City, MO-KS 15.2 24 – T 6.9 39
Knoxville, TN 17.8 8 6.0 49
Lake County-Kenosha County, IL-WI  (MSAD) 9.9 87 – T 3.5 86 – T
Las Vegas-Henderson-Paradise, NV 10.8 75 – T 10.4 3
Little Rock-North Little Rock-Conway, AR 7.1 97 2.5 99
Los Angeles-Long Beach-Glendale, CA  (MSAD) 12.9 54 – T 7.7 29 – T
Louisville/Jefferson County, KY-IN 10.7 77 – T 4.9 64 – T
Memphis, TN-MS-AR 11.9 67 5.4 57 – T
Miami-Miami Beach-Kendall, FL  (MSAD) 12.2 63 – T 8.5 21 – T
Milwaukee-Waukesha, WI 13.1 50 – T 4.9 64 – T
Minneapolis-St. Paul-Bloomington, MN-WI 11.6 70 – T 6.3 43 – T
Montgomery County-Bucks County-Chester County, PA  (MSAD) 13.0 52 – T 3.7 84 – T
Nashville-Davidson–Murfreesboro–Franklin, TN 14.6 32 – T 8.1 25 – T
Nassau County-Suffolk County, NY  (MSAD) 11.6 70 – T 4.0 79 – T
New Haven-Milford, CT 15.6 19 – T 2.6 98
New Orleans-Metairie, LA 7.9 95 – T 4.8 68
New York-Jersey City-White Plains, NY-NJ  (MSAD) 9.7 89 3.7 84 – T
Newark, NJ-PA  (MSAD) 12.8 56 3.3 92 – T
North Port-Sarasota-Bradenton, FL 16.0 17 9.2 8 – T
Oakland-Berkeley-Livermore, CA  (MSAD) 14.7 31 10.1 4 – T
Oklahoma City, OK 10.0 86 4.4 74 – T
Omaha-Council Bluffs, NE-IA 12.1 65 – T 5.5 54 – T
Orlando-Kissimmee-Sanford, FL 9.9 87 – T 8.6 19 – T
Oxnard-Thousand Oaks-Ventura, CA 10.1 84 – T 6.2 45 – T
Philadelphia, PA  (MSAD) 7.9 95 – T 4.4 74 – T
Phoenix-Mesa-Chandler, AZ 18.4 4 – T 10.9 2
Pittsburgh, PA 13.2 46 – T 5.1 63
Portland-Vancouver-Hillsboro, OR-WA 13.2 46 – T 7.9 27
Providence-Warwick, RI-MA 14.9 27 5.2 59 – T
Raleigh-Cary, NC 13.3 44 – T 6.1 47 – T
Richmond, VA 13.4 42 – T 5.7 52
Riverside-San Bernardino-Ontario, CA 16.6 12 8.9 14 – T
Rochester, NY 13.5 41 4.0 79 – T
Sacramento-Roseville-Folsom, CA 15.5 23 9.0 13
Salt Lake City, UT 18.4 4 – T 8.9 14 – T
San Antonio-New Braunfels, TX 10.8 75 – T 6.3 43 – T
San Diego-Chula Vista-Carlsbad, CA 16.8 11 7.7 29 – T
San Francisco-San Mateo-Redwood City, CA  (MSAD) 6.5 98 8.8 18
San Jose-Sunnyvale-Santa Clara, CA 9.6 90 – T 8.4 23
Seattle-Bellevue-Kent, WA  (MSAD) 14.6 32 – T 8.9 14 – T
St. Louis, MO-IL 9.1 93 – T 4.5 73
Stockton, CA 17.9 7 10.1 4 – T
Syracuse, NY 10.9 73 – T 3.5 86 – T
Tacoma-Lakewood, WA  (MSAD) 21.6 3 9.2 8 – T
Tampa-St. Petersburg-Clearwater, FL 15.2 24 – T 9.4 6 – T
Tucson, AZ 16.1 15 – T 7.1 36 – T
Tulsa, OK 12.4 59 – T 5.2 59 – T
Virginia Beach-Norfolk-Newport News, VA-NC 10.5 81 – T 3.4 89 – T
Warren-Troy-Farmington Hills, MI  (MSAD) 12.1 65 – T 8.3 24
Washington-Arlington-Alexandria, DC-VA-MD-WV  (MSAD) 10.6 79 – T 5.2 59 – T
West Palm Beach-Boca Raton-Boynton Beach, FL  (MSAD) 14.4 35 – T 9.4 6 – T
Wichita, KS 16.1 15 – T 4.7 69 – T
Wilmington, DE-MD-NJ  (MSAD) 14.4 35 – T 3.4 89 – T
Winston-Salem, NC 11.5 72 4.1 77 – T
Worcester, MA-CT 16.3 13 5.2 59 – T
Over the last year – Percent change from the first quarter of 2020 through the first quarter of 2021.

Over the last 10 years – – Average annual percent change from the first quarter of 2011 through the first quarter of 2021.

MSAD – Metropolitan Statistical Area Division.

Percent change and rank are based on metro data with seasonal adjustment for purchase transactions from the FHFA.

The “-T” designation means the metro area is tied at that ranking with at least one other metro area.

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