With low interest rates and a huge demand for housing in North Dakota, we're one of seven states where home prices are hitting record highs.

North Dakota ranks 6th in the nation in demand for housing. The other states are

1- Wyoming

2- Texas

3- Tennessee

4- South Dakota

5- Oklahoma

In 2014 the strong appreciation in home values finally paid off with significant signs of slowing, but North Dakota is one of the states that is experiencing record highs in housing.

Justin Sullivan / Getty Images

Cautiously though, Sam Kahater with CoreLogic said that with the current dip in oil prices, states like North Dakota, Texas and Colorado may see some trends downward because of a reduction in drilling and oil activity in these states.