Where Has New Home Value Increased the Most Over the Last Year?
The value of new homes in some metropolitan areas across the U.S. skyrocketed from 2018 to 2019. Find out the biggest gainers here.
Where Are Home Values Increasing?
2019 was a steady year for the residential construction industry in the United States. Low mortgage rates and solid wage growth led to some of the highest homebuilding rates since the 2017 recession. While the nationwide average estimated value per new single-family home decreased 7.9 percent over the last year, there were plenty of metropolitan areas across the country that saw some pretty major increases in the value of homes being built. ApartmentGuide.com took data from the US Census Bureau and broke it down to find out which regions in the US are building the most valuable new homes. Here is a ranking of the top metropolitan areas that saw the largest increase in home value in 2019, ranked from lowest to highest.
#8: Milwaukee-Waukesha-West Allis, WI
The value of newly constructed homes increased 35.1 percent
#6: Buffalo- Cheektowaga- Niagara Falls, NY
The value of newly constructed homes increased 37.6 percent.
#3: Crestview-Fort Walton Beach- Destin, FL
The value of newly constructed homes increased 45.9 percent.
#2: Sebastian-Vero Beach, FL
The value of newly constructed homes increased 55.2 percent.