10 Markets Where Housing Prices Have Risen the Most

Eight years after one of the most severe housing market downturns in history, the slow recovery has finally stanched the bleeding of existing home values.

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Eight years after one of the most severe housing market downturns in history, the slow recovery has finally stanched the bleeding of existing home values. In the past year (ending June 30), home prices rose in 371 of the 401 metro areas tracked by CoreLogic, a data and analytics company, pushing the median price for existing homes to $185,038. For people who have waited for prices to rise so they can sell their home or refinance their mortgage, that’s good news. However, in some metro areas, it has diminished affordability for first-time home buyers.

These 10 metro areas (as defined by the U.S. Census) have experienced the largest increases, ranging from 11.4% to 20.5%, in existing single-family home prices among cities with population of more than 250,000 for the year ending June 30. Please take a look.

BENCHMARK STATISTICS NATIONALLY (ALL ARE MEDIANS): One-year change in home prices: 7.5%. Home price: $185,038. Change in price since 2006 peak: -12.9%. Months' supply of homes: 5.5 months. Unemployment rate: 6.3% (seasonally non-adjusted). City-specific unemployment rates that follow are non-adjusted. Rate of job growth: 1.8%. Distressed sales: 15.5%.

Disclaimer

All home-price data is for existing single-family homes only (including distressed sales) and comes from CoreLogic. Distressed sales statistics are from CoreLogic. Sales, supply and other market data come from national and regional associations of Realtors.

Kaitlin Pitsker
Associate Editor, Kiplinger's Personal Finance
Pitsker joined Kiplinger in the summer of 2012. Previously, she interned at the Post-Standard newspaper in Syracuse, N.Y., and with Chronogram magazine in Kingston, N.Y. She holds a BS in magazine journalism from Syracuse University's S.I. Newhouse School of Public Communications.