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"Rising Home Values: More U.S. Cities Join the Million-Dollar Club"

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Source: Los Angeles Times
"Rising Home Values: More U.S. Cities Join the Million-Dollar Club"
Photo: Los Angeles Times
TL;DR

Several once-modest California towns, including Placentia, Orange, Tustin, Bonita, Cerritos, and San Gabriel, have seen their median home values surpass $1 million due to rising housing prices and limited supply. Residents attribute the increase to factors such as limited undeveloped land, family-owned homes, and restrictions on new construction. Despite affordability challenges and traffic issues, these cities continue to attract residents due to their charm, diversity, and proximity to job centers, contributing to the ongoing surge in home values.

Topics:businessreal-estate#california#home-values#housing-market#million-dollar-cities#real-estate#urban-neighborhoods
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  1. Once-modest California towns become 'million-dollar cities'  Los Angeles Times
  2. Average long-term US mortgage rate edges closer to 7%, rising to highest level since early March  The Associated Press
  3. $1 million homes are now 'typical' in a record number of U.S. cities, analysis finds. Here’s where they are  CNBC
  4. The Expensive Get More Expensive: Home Value Growth Tops in Highest-Price Markets (March 2024 Market Report)  Zillow Research
  5. Zillow adds another CT town to its 'million-dollar' home club  CT Insider

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