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Housing prices have continually made headlines so far this year, as prices trend upwards and mortgage rates follow suit. While this has created speculation of a bubble, investors have been making money regardless, with San Francisco, Phoenix, and other cities experiencing over 30 percent increases in value over the last year. Here’s a look at the top 10 cities with the greatest median price increase from the first quarter last year, according to the National Association of Realtors. San Francisco is in the midst of a major housing boom, with price increases there reaching 32.6 percent. California’s economy has been rebounding nicely recently, regaining its spot as the world’s number 8 economy on the back of 3.5 percent growth in 2012. Reno still maintains the elite status of being over 32 percent, coming in with a price increase of 32.1 percent since the first quarter last year. Reaching a median value now of $195,300, home prices in Reno have been a beneficiary of a larger Nevada recovery. The Atlanta area has reached a median price of $115,100 per home fueled by a 31.1 percent increase in prices over the last year. [Read this article]
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