California has 38% of the priciest places to live in the nation.
Five of California’s costliest metro areas for housing had a combined 169 million-dollar cities this year, up 10 over 12 months – or 6%. Since 2019, million-dollar cities have grown by 73 – or a 76% increase.There were a total of 550 US million-dollar cities in February, up 59 in a year – or 12% growth. It’s also an increase of 332 cities since 2019 – or a 152% jump.69 cities in February – unchanged in a year and up 23 vs. 2019. That’s adding 50% in five years.
Note that California has 38% of the nation’s “million-dollar cities” but just 10% of the US housing supply.“The housing market is tight with few homes available, and competition is still high for attractive homes. That competitive pressure is pushing home values higher across the U.S.,” the report said. “The typical U.S. home is worth 4.2% more than it was a year ago. In current million-dollar cities, the median year-over-year home value growth is 4.6%.
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