10 housing markets seeing the biggest home price gains—and 10 seeing the biggest declines

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U.S. single-family homes prices, as measured by the Freddie Mac House Price Index (which uses the repeat-sales methodology), rose +3.9% in calendar year 2024. During that same timeframe, overall U.S. consumer prices rose +2.9%.

Among the 384 metro area housing markets that the Freddie Mac House Price Index tracks dating back to 1975, these 10 metros saw the biggest year-over-year home price INCREASE in 2024 👇

1. Kingston, NY —> +13.5% 

2. Springfield, OH —> +11.8% 

3. Glens Falls, NY —> +11.7% 

4. Binghamton, NY —> +11.5% 

5. Cumberland, MD-WV —> +11.4% 

6. Syracuse, NY —> +10.9% 

7. Utica-Rome, NY —> +10.5% 

8. Atlantic City-Hammonton, NJ —> +10.5% 

9. Jacksonville, NC —> +10.3% 

10. Vineland-Bridgeton, NJ —> +10.3%

Among the 384 metro area housing markets that the Freddie Mac House Price Index tracks dating back to 1975, these 10 metros saw the biggest year-over-year home price DECLINE in 2024 👇

1. Punta Gorda, FL —> -8.6% 

2. Cape Coral-Fort Myers, FL —> -7.6% 

3. North Port-Sarasota-Bradenton, FL —> -4.7% 

4. Homosassa Springs, FL —> -3.3% 

5. Sebastian-Vero Beach, FL —> -3.2% 

6. Lakeland-Winter Haven, FL —> -2.7% 

7. Austin-Round Rock-Georgetown, TX —> -2.5% 

8. San Antonio-New Braunfels, TX —> -2.3% 

9. Ocala, FL —> -1.9% 

10. Crestview-Fort Walton Beach-Destin, FL —> -1.8%

Click here to view an interactive of the map below

The map above ☝️ shows the year-over-year change in metro area home prices between December 2023 and December 2024.

The map below 👇 shows how metro area home prices at the end of 2024 compare to that respective market’s peak in 2022.

For example, while home prices in the Austin metro area are down -2.5% year-over-year, the market is also -15.8% below its 2022 peak, according to the Freddie Mac House Price Index.

Click here to view an interactive of the map below

While some Western markets (which saw most of their declines in the second half of 2022) and Southern markets are still below their peak 2022 pricing, every market in the Freddie Mac House Price Index remains above March 2020 levels.

National home prices, according to the Freddie Mac House Price Index, are +48.5% above March 2020 levels. During that same timeframe, overall U.S. consumer prices rose +23.1.

Click here to view an interactive of the map below

This final 2024 home price data from Freddie Mac should NOT surprise ResiClub PRO members (paid tier). Our monthly home price tracker and inventory tracker (looking at +800 metros/micro areas and +3,000 counties) have closely detailed all these regional trends.

Redfin announces layoffs after striking Zillow rental deal

On Wednesday, Redfin reported to the U.S. Securities and Exchange Commission that the company is laying off 450 employees from its rental division after agreeing to a $100 million deal that makes Zillow the exclusive provider of multifamily rental listings on Redfin's sites.

Recent Redfin layoff rounds 👇

500 laid off -> June 2022

862 laid off -> November 2022 (264 via shutting down iBuying)

201 laid off -> April 2023

82 laid off -> August 2024

46 laid off -> January 2025

450 laid off -> February-July 2025

The average 30-year fixed mortgage rate as tracked by Mortgage News Daily today: 7.13% 

Same day last year: 6.96%

10-year Treasury yield today: 4.64%

“The Spread” today: 249 bps

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