Home prices across the U.S. have soared in recent years as affordability remains one of the biggest challenges for prospective homebuyers — especially those looking to get their foot in the door for the first time.
In October, the median sale price of a home grew 5.1% annually to $434,271, Redfin (RDFN) data shows. Meanwhile, supply is still constrained and mortgage rates have popped back up after offering buyers some relief in September.
Inflation in the housing market has been one of the stickiest components of the Consumer Price Index (CPI), and is expected to remain that way for the next couple of years. While prices have climbed nationwide, some regions have seen more considerable price growth than others.
Click through to see the 10 metropolitan areas that have seen median single-family home prices grow more than 100% since 2014, according to Zoocasa’s analysis of the largest U.S. metros using data from the National Association of Realtors.