Top 10 States where Home Prices are Increasing in 2024 (according to Zillow)

New data from Zillow, shown on Reventure App, is showing that home prices are continuing across these 10 states. With home appreciation ranging anywhere from 6% go 13% YoY.

Home prices continue to rise in the states on this list in 2024 because of historically low inventory levels. There's simply not enough homes for sale in these states, which continues to push home values higher for owners, real estate investors, and realtors.

10. New York - home values in New York State are up 6% YoY and have seen the biggest appreciation in Westchester and Upstate New York

09. California - prices in California continue to spike to new records, especially in San Diego and Orange County, where a historic inventory shortage is leading to double-digit price growth.

08. Illinois - Illinois sets records for people leaving the state each year, yet home prices keep growing, due to a huge lack of available homes for sale.

07. Ohio - probably the state I'm bullish on most. Home values in Ohio are starting to rise because people are finally moving into the state due to its affordability.

06. Maine - the home prices in Portland, ME are now higher than Phoenix, Nashville, and Austin. But the local incomes don't match. It could be a housing bubble.

05. Rhode Island - a small housing market driven almost purely by an overflow of people moving in from Boston and working remote.

04. New Hampshire - one of America's hottest housing markets, especially in a metro like Manchester, with many people moving in from Boston.

03. Massachusetts - a historic shortage in homes for sale is causing home values in Massachusetts to continue spiking. A lack of home building is one reason.

02. New Jersey - home values in New Jersey increased by 10% over the last year and are reaching new record highs.

01. Connecticut - America's #1 hottest housing market. Values are up 11.4% YoY, especially in cities like Hartford, Bridgeport, Stamford, and Greenwich.
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