Buyers looking for cheaper housing fueled home price growth in smaller markets.

Median Single-Family Existing Home Price Hit $368,200 in Q1 2022

In its just released quarterly report, the National Association of REALTORS®(NAR) said that 70%, from 66% in Q4 2021, of our nation’s 185 metro areas experienced double-digit price appreciation during Q1 2022.  The median price of a single-family home rose to $368,200 during Q1, an increase of +15.7% from 14.3% y/y during Q4 2021.

With these upticks in price gains and percentage increases, affordability obviously worsened in Q1 2022.

Are you ready to learn what your DISC personality style is? You know it’s critical that you understand what your natural personality style is. Once you have obtained this knowledge everything in your business and personal life will change for the better. Tim and Julie Harris are making it super simple for you to have this powerful info. Now, text the word YOU to 47372, and when you do you will instantly receive a special exclusive text link. Next, you will complete your own DISC personality test.. the results will be shared with you instantly once you complete the simple and fun test, no strings attached. Simply text the word YOU to 47372 and click the link.

P.S. (Limited time: no charge to take the complete test)

* 4 Msgs/Month. Reply STOP to cancel, HELP for help. Msg&data rates may apply. Terms & Privacy:

Regional Differences in Home Price Appreciation

The South region of the US accounted for 45% of single-family existing-home sales during Q1.  Take a look at the regional differences in price appreciation:

  • South – +20.1%
  • Northeast – +6.7%
  • Midwest – +8.5%
  • West – +5%

Top 10 Areas with Highest Y/Y Price Gains = Small & Midsize Markets

  • Punta Gorda FL – 34.4%
  • Ocala FL – 33.8%
  • Ogden-Clearfield UT – 30.8%
  • Lakeland-Winter Haven FL – +30.1%
  • Decatur AL – +28.9%
  • Tampa-St. Petersburg-Clearwater FL – +28.8%
  • Fort Collins CO – +28.4%
  • North Point-Bradenton-Sarasota FL – +28.0%
  • Myrtle Beach-Conway-North Myrtle Beach NC/SC – +28.0%
  • Salt Lake City UT – +27.9%

Lawrence Yun, NAR’s chief economist, said, “Traditionally, homes in these markets were viewed as relatively inexpensive, but with recent migration trends, prices have increased significantly.  As more families relocate to various areas…price gains in many smaller, tertiary cities are now outpacing those in more expensive primary and secondary markets.  This is due to buyers looking for less expensive housing and also a result of more opportunities to work from home, making relocation to smaller markets possible.”

Country’s Most Expensive Markets

  • San Jose-Sunnyvale-Santa Clara CA – +25% – $1,875,000
  • San Francisco-Oakland-Hayward CA – +15% – $1,380,000
  • Anaheim-Santa Ana-Irvine CA – +26% – $1,260,000
  • Urban Honolulu HI – +19.9% – $1,127,900
  • San Diego-Carlsbad CA – +18.5% – $905,000
  • Boulder CO – +18.2% – $859,100
  • Los Angeles – Long Beach-Glendale CA – +13.1% – $792,500
  • Seattle-Tacoma-Bellevue WA – +14.2% – $746,200
  • Naples-Immokalee-Marco Island FL – +24.3% – $745,000
  • Denver-Aurora-Lakewood CO – +19.4% – $662,200

According to Lawrence Yun, NAR’s Chief Economist, “Prices throughout the country have surged for the better part of two years, including the first quarter of 2022.  Given the extremely low inventory, we’re unlikely to see price declines, but appreciation should slow in the coming months.”

URGENT: Are You Worried About Having A Slower Start To The Year? Don’t Hit The Panic Button, Learn How To Have Massive Success In A Shifting Market. When You Attend This Exclusive Training You Will Learn 17 Surprising Secrets Of The Top 100 $ Millionaire Agents. Claim Your FREE Spot Now. After You Have Attended This Event You Will Experience A Huge Feeling Of Relief Knowing You Will FINALLY Laugh At Your Money Worries – You Will Have Your Own Personalized 2022 Step-By-Step Business And Lead Generation Plan. Learn Now How To Generate 100’s of Motivated Leads for FREE, Without Coming Off As A Pushy Salesperson and Losing Your Soul. You Will Soon Know How To Become One of the 1000s of Agents Making HUGE Money In This Changing Market. Claim your FREE spot now. YES, I Want To Attend The FREE Webinar! <——Click To Register

P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available. 

Thanks to the National Association of REALTORS®.

Claim Your FREE Real Estate Treasure Map!