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The states where house prices are rising fastest – and one area they’re falling

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The states where house prices are rising fastest – and one area they’re falling


Out of all 50 states, Vermont house prices soared the highest with new data revealing they jumped 12.8 percent in the last year — nearly double the national average.

According to the Federal Housing Finance Agency (FHFA), house prices across the US rose by an average of 6.6 per cent between Q1 of last year and this year, despite stubbornly high national mortgage rates, and continued fallout from the Covid-19 pandemic. Since the start of the year, house prices have increased 1.1 percent.

The highest jumps in housing prices are predominantely all on the east coast — with New Jersey, New York, Delaware all seeing double-digit increases in property appreciation.

Behind Vermont, the four states with the highest annual appreciation were New Jersey, with 11.6 percent; New York, 10.9 percent; Delaware, 10.7 per cent; and Wisconsin, with an increase of 9.9 percent.

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Only District of Columbia, which technically isn’t a state, saw a decline, with house prices dropping -1.5 percent on average.

At the opposite end of the scale, southern states including Louisiana and Missouri saw the lowest increases in property value, with 2.2 percent, and 2.7 percent, respectively. Texas and North Dakota both saw low increase, with 3.3 percent each, while West Virginia and Colorado both saw an increase 3.6 percent

Low housing inventory is contributing to the high prices across the US, said FHFA’s Anju Vajja, in a statement.

Out of all 50 states, Vermont has seen the highest increase in home appreciation in the country over the past year – 12.8 percent – according to the FHFA.

Great news perhaps, for those already with property in the Green Mountain State, but realtors say that a lack of new inventory and seller hesitancy are actually harming Vermont’s property market – and prospective homeowners are losing out.

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So what is it that is driving up house prices in Vermont?

Vermont consistently ranks among the safest states in the US, taking pole position in 2024 data from World Population Review. The state has the second smallest population in the nation (around 650,000) and is known for its natural beauty.

Historically, certain aspects of the home sale market follow a seasonal cycle in Vermont, according to the Vermont Housing Finance Agency. Most sales take place in the warmer spring and summer months.

Home prices typically increase the most during this period, with harsh winter conditions making it more challenging and less desirable to sell property.

However the median sales price of primary homes sold in Vermont in the first half of 2023 reached a value of $315,000. Even then the VHFA noted that the state was experiencing “strong demand among homebuyers relative to the inventory of homes for sale”.

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Dan Titus, real estate broker and co-owner of Flex Realty in Vermont, says that the lack of inventory in the state, restrictions on construction and state property tax, means it is unlikely that a climb down on property price will be happening any time soon.

“It’s a big time seller’s market right now, and it has been for a long time but it’s even worse now for sure,” he told The Independent. “There’s a lack of housing inventory throughout the whole state, which is only driving prices up”.

“Homes just aren’t being built fast enough to keep up with the demand, and a lot of that has to do with Vermont because it’s tough for developers to build in Vermont. There’s a lot of restrictions and red tape you have to get through in order to develop around here.

“Then our property taxes are some of the highest I believe and, and the country as well. It’s not a cheap place to live.”

All this, Mr Titus said, is coupled with a combination of “out-of-staters” and “empty-nesters” buying or keeping property and pricing out young, native Vermonters. Mr Titus said he had noted a significant uptick during the pandemic.

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“To an out-of-state $100,000 for a home may not be a lot from where they’re from, but here in Vermont, that’s quite a hefty price tag and it’s making it difficult for folks to compete with those out of state buyers,” he told The Independent.

“There’s certainly some of that going on, not as much as what we were seeing during Covid… in the Covid years there was a huge influx of people scooping up homes from out of state. But it is still happening.”

In addition, the climbing prices discouraged current homeowners, even parents whose children no longer lived at home, from selling their properties.

“It’s great if you bought a home 10 years ago, but at the same time, it’s also created a problem where people who are empty-nesters are in large home, their kids have moved out and they want to downsize, but they’re in a low interest loan or something like that or the cost to buy a smaller home doesn’t make sense versus just staying and staying where they’re at,” he said.

He told The Independent: “It’s good if you already own a home, sure. But obviously there’s really no first-time homes for first-time homebuyers. Those are almost gone.”

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Visitors spent over $1B in Chittenden County in record VT tourism year

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Visitors spent over B in Chittenden County in record VT tourism year


Vermont’s tourism industry set new records in 2024, with 16 million visitors spending $4.2 billion, according to a community announcement.

The increase in both visitation and spending marks a modest rise from 2023, according to a study by Tourism Economics.

Visitor spending accounted for 9% of Vermont’s gross domestic product, significantly higher than the 2023 national state average of 3%. The tourism sector directly supports 31,780 jobs, or 10% of the state’s workforce, compared to the national average of 4.6%.

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Direct spending by visitors in 2024 included $1.5 billion for lodging, $876 million for food and beverages, $680 million in retail, $678 million for transportation and $462 million for recreation and entertainment. The spending generated $293.5 million in state and local taxes, equivalent to $1,089 per Vermont household.

“As we think about economic impact, it is important to recognize that visitors to Vermont are essentially temporary taxpayers, bringing in outside money that helps to make Vermont more affordable for all of us,” said Department of Tourism and Marketing Commissioner Heather Pelham. “Every guest who buys a meal, stays the night, or heads to the mountain is supporting our businesses, sustaining jobs for Vermonters and funding the essential services that keep our communities strong.”

When considering the broader economic impact, including supply chain purchases and employee spending, the ripple effects of visitor spending amounted to $7 billion in economic activity in 2024.

The report also provided county-specific data, showing increased spending in every county. Chittenden County accounted for the highest share of visitor spending at 24.5%, at well over $1 billion. Lamoille, Rutland and Windsor counties each represented more than 10% of statewide visitor spending.

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In Caledonia County, direct spending from visitors reached $109 million, a 7.7% increase from 2023.

“During the 2024 total solar eclipse, the positive impact of tourism on a rural community like St. Johnsbury was clear,” said Gillian Sewake, director of Discover St. Johnsbury. “An estimated 23,000 people came to our town alone. It was wonderful to feel that vibrancy in our downtown, with visitors filling sidewalks, enjoying the attractions that we know and love, and helping businesses break revenue records.”

In Bennington County, tourism generated almost $300 million in direct spending in 2024.

“Tourism is one of our region’s most powerful economic drivers, supporting nearly 13% of our workforce,” said John Burnham, executive director of the Manchester Business Association. “But its value reaches far beyond jobs. Visitor spending strengthens our economy, sustains small businesses, and helps fund the local services and amenities we all rely on, from restaurants and trails to cultural attractions and community events. Tourism also inspires us to preserve our historic character and adds a vibrancy that enriches everyday life. Simply put, the visitor economy helps keep our region the welcoming, thriving place we’re proud to call home.”

The 2024 economic impact report comes at a time when resident support of tourism is strong. In the University of Vermont Center for Rural Studies 2025 Vermonter Poll, 85% of residents agreed with the statement “Tourism is important to my local economy,” and 78% agreed with the statement “Increased tourism would have a beneficial impact on my local community.”

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To read “Economic Impact of Visitors in Vermont 2024,” learn more about the report’s methodology, and the additional indirect and induced effects of visitor spending, visit the Vermont Department of Tourism and Marketing Tourism Research webpage, accd.vermont.gov/tourism/research.

This story was created by reporter Beth McDermott, bmcdermott1@usatodayco.com, with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at cm.usatoday.com/ethical-conduct.



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Obstacles for Vermont refugees is focus at roundtable

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Obstacles for Vermont refugees is focus at roundtable


BENNINGTON — Sitting in a circle at the Bennington County Multicultural Community Center, Jack Rossiter-Munley shared the story of two families with whom he had worked.

The families had immigrated from South Sudan to Bennington, which was designated as a refugee site in October 2022. Since then, about 205 refugees have immigrated to the town. But the lives that they had hoped for in the United States haven’t necessarily come to fruition.

“These are folks who needed more orientation to work in the United States, but also the line is moving, and so you’re no longer on the line,” said Rossiter-Munley, the director of the Bennington County Multicultural Community Center. “Because their actual work here was unstable, they decided, ‘we’re just going to try to find work somewhere else.’”

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Some of the family members moved to the Midwest, where they hoped to find a larger South Sudanese community and more support from their relatives. Those still in Bennington are looking to follow, he said.

Rossiter-Munley and about a dozen other people were gathered on Dec. 5 at BCMCC for a roundtable on Employment Support for New Americans, part of Gov. Phil Scott’s “Capital for a Day” initiative. That day, Scott and several of his cabinet members stationed themselves around Bennington County, holding meetings and hosting conversations with local leaders as they heard how to better support Bennington County.

The roundtable came at an especially pressing time for local immigrants. On Dec. 2, the U.S. Citizenship and Immigration services under President Trump announced that it would pause its review of applications for green cards, asylum and citizenship following the shooting of two National Guard officers deployed in Washington, D.C. The pause applies to 19 countries — including Afghanistan and the Republic of Congo — from where many new Americans in Bennington emigrate.

People also come to Bennington from Venezuela, South Sudan and Iraq as part of the resettlement programs, Rossiter-Munley said. At the following Monday’s Select Board meeting, he read a statement on behalf of Afghan women in Bennington, condemning the violence in Washington, D.C. and asking for the community’s understanding. And at the roundtable, he was clear about the legal implications for those already living in Bennington: “nothing has changed.”

Kendal Smith, commissioner of the Department of Labor, was in attendance at the Dec. 5 meeting and represented Vermont. She sought to understand how the state could better support immigrants and refugees in Bennington County.

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The biggest challenges Smith identified were language access support, transportation and licensing attainment, she said.

Translation is an area that gets highlighted the most in Bennington because the town is “uniquely deficient” in providing such community support, Rossiter-Munley said. Bennington county was almost 95 percent white, according to the latest census data.

Smith said that the Department of Labor is exploring funding the purchase of more translation devices to help overcome language barriers at work. The state currently contracts with Propio, an AI-based interpretation service. BCMCC uses Boostlingo to translate their speech into languages like Swahili and Dinka.

Another difficulty in Bennington is access to transportation to work. Wendy Morris, the Department of Labor’s regional manager, said that even commutes between Bennington and Manchester can pose serious challenges for new Americans.

“We help them get a job — let’s say we could do that, and we get them to Manchester,” she said. “We do the interview with them. How do we get them there every single day?”

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The Department of Labor will explore “creative ways” to fund and provide driver’s licenses to immigrants and refugees, said Rowan Hawthorne, the policy and legislative affairs director at the Commissioner’s office. The Department will also work with the Office of Professional Regulation to “overcome licensing transfer barriers.”

Nearly every member of the roundtable stressed that immigrants and refugees in Bennington faced difficulties finding jobs that suited their training — for example, as pharmacists or engineers — and often were met with employers who were skeptical about hiring them.

All of it means that volunteers and leaders working with refugees are stretched thin.

“I can’t say enough how everybody in this room is doing more than their job,” said Sean-Marie Oller, director of the Tutorial Center, a Bennington nonprofit that provides adult education and literacy classes.

Still, Rossiter-Munley tries to be optimistic. He cited a study that showed refugee resettlement provided a net benefit of $123.8 billion to local, state and federal economies. And he’s encouraged by the state Department of Labor’s openness to growth.

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“When we are sitting down to meet with employers, or offering support or working alongside the Department of Labor, the more of that knowledge can become just part of the day-to-day work of a how a local department … functions,” he said.

“This is part of how we work, and it’s not a special one-time project.”



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‘Wreaths Across America’ observed at Vermont Veterans’ Home

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‘Wreaths Across America’ observed at Vermont Veterans’ Home


BENNINGTON — Holiday commemorations extended to the Vermont Veterans’ Home cemetery on Saturday, where community members gathered to honor the service men and women interred there through Wreaths Across America. Among those participating were members of Bennington’s own Civil Air Patrol.

The wreath-laying included an official ceremony, as well as laying wreaths at veteran graves and saying the veterans’ names out loud.

“So many Vermonters have sacrificed to serve in our Armed Forces. Sponsoring a wreath is a sign of gratitude to our veterans – both those who are living and to those who have departed,” said Susan Sweetser, the founder of the Vermont Veteran Moms group for Wreath Across America. “The first year after my daughter, Sgt. Virginia L. Sweetser, passed away and was buried at the Vermont Veterans Cemetery in Randolph, I participated in the Wreaths Across America event in Randolph. I was so discouraged to see that only 250 wreaths had been sponsored for the over 4,000 graves at VVMC. I vowed that I would work to change that. We have come a long way and I am praying that this will be the year that we see all the participating veteran graves covered.”

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Wreaths Across America provides wreaths for Veteran graves all over the U.S., including the graves at Arlington National Cemetery.



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