Week of November 5, 2018

Property appreciation rates

Year-over-year property appreciation rates by state

Year-over-year property appreciation rates by state
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State Property appreciation
rates by state, YOY
Alabama 3.66%
Alaska 1.84%
Arizona 7.30%
Arkansas 3.39%
California 7.48%
Colorado 7.67%
Connecticut 1.84%
District of Columbia 1.80%
Delaware 2.49%
Florida 5.81%
Georgia 6.48%
Hawaii 5.23%
Idaho 12.21%
Illinois 3.23%
Indiana 6.96%
Iowa 2.94%
Kansas 5.62%
Kentucky 4.49%
Louisiana 1.38%
Maine 3.45%
Maryland 2.60%
Massachusetts 5.52%
Michigan 6.90%
Minnesota 6.00%
Mississippi 3.38%
Missouri 6.13%
Montana 4.22%
Nebraska 5.44%
Nevada 12.99%
New Hampshire 5.11%
New Jersey 2.09%
New Mexico 3.72%
New York 4.31%
North Carolina 4.84%
North Dakota -0.98%
Ohio 6.56%
Oklahoma 2.33%
Oregon 6.31%
Pennsylvania 3.58%
Rhode Island 6.87%
South Carolina 5.02%
South Dakota 3.83%
Tennessee 6.98%
Texas 5.14%
Utah 8.87%
Vermont 2.59%
Virginia 2.49%
Washington 9.24%
West Virginia 7.02%
Wisconsin 5.63%
Wyoming 1.93%

The map illustrates the top states for property appreciation rates year over year. Property appreciation is calculated based on repeat sales of the same properties, which can avoid the problem of trying to account for price differences in homes with varying characteristics. Increasing home prices usually indicate increased demand or weakening supply, while decreasing prices reflect decreased demand or strengthening supply.

Except for North Dakota, all states saw property appreciation versus one year ago, with Nevada, Idaho, Washington, Utah and Colorado leading as the top five. Nevada had the highest year-over-year property appreciation rate at 12.99% in August 2018.

Overall, property appreciation rates were higher in the western half of the United States. The national average property appreciation rate was 4.9%, with 26 states above the average.1

1Source data: CoreLogic®
Data date: 09/25/2018

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