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American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Summary:
The lengthy economic recovery that followed the great recession will be remembered for, among other things, the torrid gains seen in real-estate markets from NYC, to Boston to the Bay Area, and beyond. A recent survey from Construction Coverage found that home prices in some cities have skyrocketed over the ten year period, while prices in other cities slumped even further. As hot markets got hotter, as unloved urban areas continued to decay. Interestingly enough, many of the cities that saw the biggest increases in prices likely wouldn't be considered obvious. Instead, what Construction Coverage found was that many small and mid-sized cities in the Sun Belt saw surprisingly strong appreciation. The leader in the "Large City" category was Oakland, Calif. - aka "San Francisco's

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The lengthy economic recovery that followed the great recession will be remembered for, among other things, the torrid gains seen in real-estate markets from NYC, to Boston to the Bay Area, and beyond. A recent survey from Construction Coverage found that home prices in some cities have skyrocketed over the ten year period, while prices in other cities slumped even further. As hot markets got hotter, as unloved urban areas continued to decay.

American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Interestingly enough, many of the cities that saw the biggest increases in prices likely wouldn't be considered obvious. Instead, what Construction Coverage found was that many small and mid-sized cities in the Sun Belt saw surprisingly strong appreciation. The leader in the "Large City" category was Oakland, Calif. - aka "San Francisco's Brooklyn".

San Bernardino topped the mid-sized city list, while Lehigh Acres Fla. took the No. 1 spot in the small cities category.

Here's a ranking of the 15 large cities that topped the ranking of the highest price appreciation.

Oakland

American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Percentage change in median home price since 2010: 102.2%

Absolute change in median home price since 2010: $400,119

2020 median home price: $791,554

2010 median home price: $391,435

Median household income: $76,469

Detroit

American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Percentage change in median home price since 2010: 101.7%

Absolute change in median home price since 2010: $19,478

2020 median home price: $38,638

2010 median home price: $19,160

Median household income: $31,283

Phoenix

American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Percentage change in median home price since 2010: 99.0%

Absolute change in median home price since 2010: $136,536

2020 median home price: $274,488

2010 median home price: $137,952

Median household income: $57,957

San Jose

American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Percentage change in median home price since 2010: 98.7%

Absolute change in median home price since 2010: $494,246

2020 median home price: $995,212

2010 median home price: $500,966

Median household income: $113,036

Las Vegas

American West Dominates Ranking Of Cities That Saw Fastest Growth Over Last Decade

Percentage change in median home price since 2010: 98.3%

Absolute change in median home price since 2010: $143,651

2020 median home price: $289,830

2010 median home price: $146,179

Median household income: $53,575

See the rest of the list in the graphic below:

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit.

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