Does Your House Earn $266 a Day?

Abstract

Rising home values have long been a dependable way to generate equity, and recent price increases have been stunning: In the second quarter of 2022, the median price of a new home in the United States - $414,000 - was 14 percent higher than it was a year earlier, according to the National Association of Realtors. That's just icing on the cake for people who have owned their homes for 10 years or more, according to a new study by Point2, which tracked median single-family-home prices from 2011 through 2021 in the 187 largest U.S. metropolitan areas. At the bottom of the list was Peoria, Ill., where the median price rose about 9 percent from 2011 through 2021, inching up from $119,800 to $130,500. The study found an evocative way to describe long-term price growth: by breaking it down day by day. That's one way to envision price appreciation in San Jose, Calif., which had the greatest gain of all metros when measured in actual dollars. This week's chart, based on Point2's report, shows net daily gains in median home prices in the 20 U.S. metropolitan areas where they were highest. Growing Equity Net daily increases of median single-family home prices from 2011 through 2021 in the 20 U.S. metros where they were the greatest.