Where are home prices rising and falling in the US?

Zooming in on state and local data provides more context to recent changes to home prices. Most of the states and metro areas with the biggest rises in home prices from Q2 2022 to Q2 2023 were located in the eastern US, and most with the biggest decreases were located in the west.

Overall, prices for single-family homes rose by 3.0% between the second quarters of 2022 and 2023 and 1.7% between the first and second quarters of 2023, according to the Federal Housing Finance Agency (FHFA).