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House Prices Increase Year-Over-Year

House Prices Increase Year-Over-Year

U.S. house prices rose 4.5 percent between the fourth quarters of 2023 and 2024, according to the Federal Housing Finance Agency (FHFA) House Price Index, and 1.4 percent compared to the third quarter of 2024.

  • Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.
  • House prices rose in 49 states between the fourth quarter of 2023 and the fourth quarter of 2024. The five states with the highest annual appreciation were 1) Connecticut, 8.3 percent; 2) New Jersey, 8.3 percent; 3) Wyoming, 8.3 percent; 4) Vermont, 8.1 percent; and 5) Rhode Island, 7.6 percent. House prices declined in Mississippi by 0.2 percent.

House prices rose in 92 of the 100 largest metropolitan areas over the previous four quarters. The annual price increase was the greatest in Urban Honolulu, HI at 18.7 percent. The metropolitan area that experienced the most significant price decline was Cape Coral-Fort Myers, FL at 6.3 percent.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.