According to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI), U.S. house prices rose 8.4% year-over-year from the fourth quarter (4Q) of 2021 to 4Q 2022. However, in Florida, the average price increase was 15.2% - the highest of any state, with North Carolina following closely behind at 13.4%. In fact, Florida's 100 largest metros all ranked in the top 31 for price increases, with six of them taking spots in the top ten.

Bradenton in Florida took the top spot for year-over-year growth, boasting a 20.1% increase. Fort Lauderdale-Pompano Beach-Sunrise came in second place, with an 18.2% year-over-year increase. West Palm Beach-Boca Raton-Boynton Beach took third place, rising by 17.8% year-over-year.

In contrast, the District of Columbia saw a drop in housing prices by 0.8%. California, Idaho, Oregon, and Washington all had lower-than-average increases, with California only seeing a 2.3% rise.

FHFA's Dr. Polkovnichenko, supervisory economist in the Divisio; ...