A Federal Housing Finance Agency study compared growth in price indices between 2000 and 2016. At the zip code level, those with an index of 175 meant prices in 2016 were 75% higher than prices in 2000. High-growth areas were concentrated in the West and Midwest regions, while the East North Central, East South Central and South Atlantic regions saw the lowest growth.
Another finding from the research was that large cities were less prone to housing busts than smaller ones, as small cities saw greater price declines during the housing bust.
Following a trend that began in the 1990s, the research also saw an increase of preference to live in the city instead of the suburbs. Homes closer to central business districts saw price growth go up at a faster rate than those farther from the city.
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The West and Midwest regions experienced the fastest price growth from 1990-2015, according to the National Association of Realtors.