Homes prices all across the country have rebounded sharply from the housing downturn. CoreLogic, a real estate information firm, reported that over the past year, prices rose in 371 of the 401 metro areas it tracks. But 10 metro areas, as defined by the U.S. Census, have experienced the sharpest increase, ranging from 11.4 percent to 20.5 percent, according to Kiplinger magazine.
Not too surprisingly, the San Francisco metro area leads the list with the median price up between 13.4 percent and 20.5 percent, according to the magazine. In fact, their survey found prices have come all the way back – or even surpassed – their peak levels of 2006 in many communities.
“Demand has outstripped supply in the nation’s most-expensive housing market for decades,” Kiplinger reports. “This is what happens when high population growth meets geographic and regulatory constraints on new housing construction.” The publication said that another tech boom fueled by an influx of social media companies to the Bay Area (San Francisco, Oakland, Vallejo) is again driving up home prices.
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