in our free newsletter.

Thousands benefit from our email every week.

Boise, Idaho

Boise, Idaho saw an enormous boost in housing prices during the pandemic. The country’s most overpriced city became a hotspot for technology workers relocating from expensive California cities after pandemic shutdowns. Now, Boise is 73% overvalued, according to Moody’s.

The city’s population grew by 3.3% from July 202 to July 2021 alone — the six highest among all U.S. metro areas.

The city was listed as the No.1 to live by Livability back in 2019, giving residents access to both the wilderness and a safe, affordable city. This helped fuel the increase of young homebuyers once the pandemic hit with the increase in remote work.

Contemporary art has outperformed the S&P 500 by 131% for the past 26 years. Join the exclusive platform to invest in million-dollar works by artists like Banksy, Basquiat, and more. Get started today and diversify your portfolio with art.

Learn More

Colorado Springs, Colorado

Things have become heated in Colorado Springs, where a new clause was introduced to protect homebuyers. The clause prohibits exceeding prices past a certain point as bidding wars continue to fuel the market.

The city has been undergoing a 10-year home price increase, due partly to its proximity to Denver, but at a lower cost. The median price of a home hit $450,000 in April, a 14.5% increase from 2021.

Las Vegas, Nevada

While Las Vegas prices exploded during the pandemic, there may be a slight shift coming. The average cost of a home hit a new record in May at $482,000.

However, home sales started to drop, down 8.8% year-over-year. The cost of a home in Las Vegas is now triple what it was just a decade ago, fuelled by the last housing crash.

Acorns rounds your everyday purchases to the nearest dollar and invests your spare change. That means any spare change from your daily spending – gas, coffee or groceries – will go towards building your wealth. Get up to $20 when you sign up with this special link.

Get Started

Phoenix, Arizona

The number of new residents continues to rise in Phoenix, and with fewer homes available that means higher housing prices.

Yet as with Las Vegas, newly built homes along with applications for mortgages seem to be falling, perhaps signaling perhaps a peak soon.

Phoenix actually was the leader in country-wide home price increases until recently. Still, there remains a healthy housing market that may take longer to slow compared to other cities.

Coeur D’Alene, Idaho

Idaho makes the list twice as the entire state sees more and more new residents, pushing prices higher.

Coeur D’Alene saw an inventory explosion during the pandemic, with the supply of inventory up 112% year over year in May of 2022. Buyers paid a 55.9% premium, according to Moody’s. That’s compared to just 19.6% back in 2019.

And while home prices have increased, it seems that Idaho remains a relatively affordable, and thus desirable, place to live.

Meet Your Retirement Goals Effortlessly

The road to retirement may seem long, but with WiserAdvisor, you can find a trusted partner to guide you every step of the way

Wiseradvisor matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.

About the Author

Amy Legate-Wolfe

Amy Legate-Wolfe

Freelance contributor

Amy Legate-Wolfe is an experienced personal finance writer and journalist. She has a Bachelor of Arts in History from the University of Toronto, a Freelance Writing Certificate in Journalism from the University of Toronto Schools, and a Master of Arts in Journalism from Western University. Amy has worked for Huffington Post, CTVNews.ca, CBC, Motley Fool Canada, and Financial Post. She is skilled at analyzing trends and creating content for digital and print platforms. In her free time, Amy enjoys reading and watching British dramas on BritBox. She is a mother and dog-mom to a Wheaten Terrier.

What to Read Next

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.