Suburbs & Rural Homes Gained Up To 4X More Value in 2022 Over Urban Homes

Redfin reports that in 2022, while the overall residential real estate market lost $2.3 trillion in value, suburban housing markets led by markets in Florida, South Carolina, and Tennessee gained 6.5% in value while rural locations gained 8.5%. By comparison, urban markets gained 2.5% net with six major metro areas, including San Francisco (-6.7%), Oakland (-4.5%), San Jose (-3.2%), New York (-1%), Seattle (-0.4%), and Boise (-0.3%) declined in 2022.

Before the Federal Reserve began its rate hike campaign in the second quarter of 2022, most markets experienced their largest gains in value with the bulk of the $2.3 trillion loss in real estate values occurring between June and December of last year.

As residential real estate generally comprises one of the largest investments for many Americans and since the Federal Reserve continues to indicate that it will continue to raise interest rates to combat inflation, we will keep track of this story.

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