June 2016 Median List Price: $625,000
June 2015 Median List Price: $549,900
Year-Over-Year Change: 13.66%
Across the Boston area, the housing market is full of activity — fortunately, much of it is healthy. The increase in home prices is more closely aligned with what people owe on their homes. Homeowners, therefore, have more flexibility to sell, which has helped create a modest increase in inventory.
“Housing is driven by supply and demand,” said Chandler Crouch, founder and principal broker at Chandler Crouch Realtors.
Prospering business climates, domestic migrations, home inventories — all of these factors can impact supply and demand in housing, said Crouch. With these factors in mind, GOBankingRates.com surveyed the 100 most populous cities in the U.S. to identify which cities are experiencing the fastest increases in home prices. From the Bay Area to South Florida, here are 20 cities where home prices are skyrocketing.