10 Places Where Home Prices Have Skyrocketed Since the Pandemic

When the COVID-19 pandemic first reached America, some prognosticators forecast that a steep downturn in the economy would also translate into a housing slowdown.

In fact, housing demand — and prices — exploded. Over the past few years, values have soared in cities from coast to coast.

In some places, price growth was breathtaking. Recently, The Wall Street Journal cited research from mortgage-data firm Black Knight that revealed the markets where prices rose most between February 2020 and January 2023. Following is that list.

Phoenix

Home price increase in this city between February 2020 and January 2023: 47%

Phoenix is one of those warm-weather destinations that attracts many transplants, as we note in “18 Great Warm and Sunny Places to Retire in the U.S.”

Raleigh, North Carolina

Home price increase in this city between February 2020 and January 2023: 47%

North Carolina’s capital city was such a go-to destination that was named one of “The 15 Hottest Real Estate Markets of 2022.”

Orlando, Florida

Home price increase in this city between February 2020 and January 2023: 48%

Many people who relocate to Orlando have deep pockets, as we note in “10 Places Where Many Homebuyers Pay All Cash.”

Nashville, Tennessee

Home price increase in this city between February 2020 and January 2023: 48%

The attractive nature of Music City helped it find a place among “The Top 10 Housing Markets for 2023, According to Zillow.”

Atlanta

Home price increase in this city between February 2020 and January 2023: 49%

Atlanta is an economic powerhouse, and one of “15 Affordable Cities With Large Populations of Young People.”

Charlotte, North Carolina

Home price increase in this city between February 2020 and January 2023: 49%

Charlotte continues to attract many residents from the New York and New Jersey area, which contributes to its place among “The 15 Fastest-Growing Metro Areas in the U.S..”

Jacksonville, Florida

Home price increase in this city between February 2020 and January 2023: 50%

Love working from home? Jacksonville is one of “The Top 15 Cities for Remote Workers in 2023.”

Austin, Texas

Home price increase in this city between February 2020 and January 2023: 50%

Austin has been one of the trendier places in the U.S. in recent years. In January, it made the list of the “10 Best Cities for Millennials Looking to Relocate Post-Pandemic.”

Miami

Home price increase in this city between February 2020 and January 2023: 53%

Everybody wants to live in paradise these days. As a result, Miami is No. 1 on the list of “12 Places With More Million-Dollar Homes in 2023.”

Tampa, Florida

Home price increase in this city between February 2020 and January 2023: 59%

Despite rising prices during recent years, those who are just beginning adult life might want to consider Tampa. It is among “The Best U.S. Cities to Find a Starter Home.”