The Rise and Fall of Home Prices in Booming Cities.

Home prices in most major U.S. cities that saw values triple since 2000 have been staying flat or going down, except for Miami and Tampa, which saw increases of 16% and 12%, respectively, in just one year. San Francisco, for example, had a typical home value of $356,800 in 2000, which shot up to $1.4 million in 2022, but from 2022 to 2023, prices dropped by just 1.6%. Mid-sized cities like Jacksonville and Orlando, Florida; Oklahoma City; Hartford, Connecticut; Richmond, Virginia; Columbus, Ohio; and Nashville, Tennessee all had increases topping 10% in just one year. The national average has gone up by 8.7% between 2022 and 2023.