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n a stark contrast to the sluggish US housing market, four Sun Belt cities are thriving with surging home sale prices and demand. According to John Burns Research & Consulting's latest data analysis, Atlanta, Charlotte, Raleigh, and Dallas are leading the charge.
These cities' success can be attributed to their strong performance during the COVID-19 pandemic, when they saw a surge in home sales and prices. Realtor.com senior economic research analyst Hannah Jones notes that "home shoppers looking for more bang for their buck, without sacrificing access to amenities and job opportunities, homed in on these markets." As demand skyrocketed, inventory levels plummeted, leading to climbing prices and stiff competition among buyers.
In 2022, the median home sale price in these four cities saw a significant decline compared to pre-pandemic levels. Atlanta's median home sale price reached $415,000 in November 2024, up 7% year over year and 35.7% from 2019. Charlotte's median home sale price hit $423,500, an increase of 8.6% from the previous year and a staggering 60% from 2019.
Raleigh, NC, has seen an influx of newcomers, making it one of the fastest-growing metros in the US. The city's median home sale price peaked at $465,000 in November 2024, up 8.4% from the same period in 2023 and a whopping 67.7% compared to five years earlier.
Dallas, TX, has also experienced significant growth, with its median home sale price increasing by 28.5% since November 2019. According to Jones, "Dallas saw steady, but rather low, price growth pre-pandemic, but prices really started to pick up during the pandemic."
Each of these cities offers a unique blend of economic opportunities, cultural attractions, and outdoor activities that have drawn in homebuyers. From Atlanta's thriving arts scene and mild winters to Charlotte's professional sports teams and NASCAR Hall of Fame, there's something for everyone.
Raleigh boasts its educational institutions, including North Carolina State University, as well as a live music scene and performance venues like the Lincoln Theater. Dallas, on the other hand, is a major economic center with a diverse food scene that goes beyond its Tex-Mex and barbecue roots.
As the US housing market continues to evolve, these four cities are poised for continued growth and success. With their strong economies, cultural attractions, and desirable lifestyles, they're likely to remain in high demand among homebuyers.
