10 Home Price Appreciation Hot Zones

Despite the succession of winter storms this month, 10 real estate markets are sizzling with rapid home price appreciation.

These 10 U.S. cities have posted double-digit annual price growth despite rising rates and a national affordability crisis. Frank Nothaft, chief economist at real estate data firm CoreLogic, tells Realtor.com that “even with the deceleration in home price increases ... we are still seeing strong home buying in smaller metros that have good affordability and solid job growth."

The question is no longer if the nation is in the throes of a housing slowdown, but rather how deep and wide it will wind up being ... The number of existing home sales has dropped to the lowest level in three years, price growth has slowed precipitously, and some super-pricey, bellwether cities are actually seeing prices fall. (We're looking at you, San Francisco, Dallas, and Miami!) The fact that home growth has slowed in 70 percent of the U.S.' 200 largest housing markets has economists debating whether the housing slowdown is the canary in the coal mine, warning of economic woes to come.

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