These 5 US Cities Have the Fastest-Rising Home Prices

These 5 US Cities Have the Fastest-Rising Home Prices

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.