These 5 US Cities Have the , Fastest-Rising Home Prices.
'Newsweek' reports that five cities in the
United States saw home prices increase by more
than 8% between January 2023 and January 2024.
The S&P CoreLogic Case-Shiller National Home Price
Index showed that all 20 cities analyzed had year-
over-year increases during the same period of time.
According to the report, , these are the five cities where , home prices grew the fastest:.
Chicago, IL, Home prices increased by 8%
year-over-year in the Windy City.
According to the latest Redfin data, the median sale price of a house in Chicago was $335,000 as of February 2024, a 6.3% increase compared to the same time last year.
Charlotte, NC, Charlotte saw home prices increase
by 8.1% year-over-year for 2024,
with the median home price at $399,995.
Detroit, MI, Motor City saw home prices jump 8.3%. The median sale price of a home was $83,000, a significant 15.3% increase compared to 2023.
'Newsweek' reports that while Detroit has some of the cheapest
home prices in the nation, its housing market is seeing a
resurgence due to a boom in electric vehicle production.
'Newsweek' reports that while Detroit has some of the cheapest
home prices in the nation, its housing market is seeing a
resurgence due to a boom in electric vehicle production.
Los Angeles, CA, The city's 8.6% hike ranked as the second-highest
price increase in the nation with the median home
price at $975,000, a 5.9% increase year-over-year.
San Diego, CA, San Diego registered a whopping 11.2%
price increase for 2023 with the median sale price
sitting at $940,000, a 10% year-over-year increase.