Million dollar cities on the rise as home prices climb



More cities have hit the $1 million mark amid rising home prices, especially in California.

A year ago, real estate marketplace Zillow found 491 cities where the typical home value was $1 million or more. That number grew to 550 cities this year, according to Zillow.

California was home to 210 million-dollar cities, more than the next five states combined. California was followed by New York (66 cities), New Jersey (49), and Florida (32).

“Affordability is still a big challenge for buyers, but that hasn’t stopped home values from climbing,” Zillow reported. “The housing market is tight with few homes available, and competition is still high for attractive homes. That competitive pressure is pushing home values higher across the U.S.”

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below



Share post:


More like this

Illinois legislators considering tax and spend policies in final days of session

(The Center Square) – Illinois legislators continue to consider...

WA Traffic Safety Commission unveils new messaging amid increase in fatal crashes

(The Center Square) – The Washington Traffic Safety Commission...

Lawmakers to grill Biden’s energy secretary over energy costs, regulations

(The Center Square) – Lawmakers will grill President Joe...

Illinois quick hits: DePaul pro-Palestinian encampment dismantled

DePaul pro-Palestinian encampment dismantled ...