Home prices: What's up in your city
Metro areas on both coasts dominate the rising home-price derby. Only two of the 25 cities
-- Phoenix and Las Vegas -- with the highest percentage change in median home prices in
2002-03 were from interior states, according to data prepared for Kiplinger's by
consulting firm Global Insight.
Where are home
prices headed in your area?
Here are the one-, three- and five-year appreciation rates for more than 300 metropolitan
areas across the United States.
Choose a State:
Alaska thru Mississippi | Montana thru
Wyoming
For increases from the median in 2003 to the median in
2004, Global Insight is predicting the top areas will be better dispersed across the
country, split about evenly between coastal and noncoastal areas.
Cities such as Santa Fe, N.M., Denver and Pittsburgh will be near the top of the pack with
price increases of about 4%, predicts Global Insight. The firm also says that some of the
boom regions in 2003 will be laggards in 2004. Areas such as Fort Lauderdale and West Palm
Beach, for example, which recorded increases of about 9% from 2002 to 2003, will barely
budge in 2004.
Some areas that have traditionally been in the forefront of rising prices have finally
slowed down. San Francisco has the highest median home price, about $576,000, and also has
one of the highest five-year percentage changes, at about 63%. But prices there rose only
about 3% from 2002 to 2003. Likewise, Boston's wild price increases of the past five
years, totaling 66%, appear to have calmed down.
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