All housing markets are native, and county-level information do not capture all the nuances that could drive the worth of a given home in a given neighborhood. On the entire, the us housing market nonetheless appears significantly much less dangerous than it did within the mid-2000s. At the opposite finish of the spectrum, median home costs in many Silicon Valley communities easily exceed $1 million. Palo Alto’s median home sale price has tripled since 1997 to nicely over $2 million, and the town now has the quickest rising home costs in the Bay Area. The booming economic system has additionally contributed to rising home costs in San Francisco. The city has weathered the recent recession-caused retrenchment in housing costs, and robust sales have sent the median home worth hovering nicely past the level reached throughout the pre-recession housing bubble. Home prices are a reflection of many components, together with the supply of houses and the strength of the native economic system (as mirrored within the incomes of would-be householders presently within the market).
Ohio both have the second-highest number of cities on the list, with three each making the ranks. In these cities, the value of a typical home saw …
