The U.S. housing market has been surging ever since the pandemic started. In 2020, borrowers were offered low mortgage rates, leading to an influx of people buying homes, which began to drive up the cost of the typical home in cities across the country.
The research team at Decorative Ceiling Tiles wanted to know which cities were getting hit the hardest with rising home prices. Using the Zillow Home Value Index, they found the typical value of homes in each of the 300 biggest cities in the U.S. before the pandemic began (January 2020) and compared them to the typical home values in July 2022.
Through their analysis of this housing price index, they found the 50 cities that had the biggest increases in home value and have featured the results in the following infographic.