City-Level Home Prices Diverge as U.S. Annual Growth Slows

Overview

• Stacker lists republished July 19–20 used Zillow’s typical home-value series to rank metro-area cities and showed wide one-year and five-year spreads in price change.
• The national typical home value was $372,057 in June, a 1.1% year-over-year increase that reflects a marked slowdown from the pandemic-era surge.
• Some high-end enclaves and smaller fast-growing towns posted large one-year gains, including Newport Beach at +10.5% and Fabens at +9.6%, while a few places like Agua Dulce recorded year-over-year declines.
• Higher mortgage rates near multi-year highs have cooled overall demand even as tight for-sale inventories keep upward pressure on prices in many local markets, squeezing buyers’ affordability.
• The Stacker/Zillow snapshots are descriptive only and underline a policy challenge for local leaders, since persistent supply shortfalls could deepen regional price gaps and push more first-time buyers out of local markets.