Regional trends reveal that states in the Northeast and West have generally outpaced those in the South. Since July 2023, blue states have shown slightly stronger home price growth than red states, with New York, Las Vegas, and Chicago reaching all-time highs.
“Regionally, all markets continue to remain positive, barely,” Luke said in the report. “Denver posted the slowest annual gain of all markets this year, dropping below Portland for the first time since the spring. The Northeast remains the best-performing region, with the strongest gains for over a year.
“Currently, only New York, Las Vegas, and Chicago markets are at an all-time high. Comparing average gains of traditional red and blue states highlight a slight advantage for home price markets of blue states. With stronger gains in the Northeast and West than the South, blue states have outperformed red states dating back to July 2023.”
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Source: mpamag.com