DollarCashFlow
By: Ravi G.
With fewer homes on the market, competition is fierce and property prices are on the rise.
According to recent statistics from Zillow, the number of U.S. cities with median house values of $1 million or more increased from 491 last year to 550 now.
Only three states—Delaware, Florida, and Texas—saw a decline in the number of million-dollar cities in the last year.
The states of California, New York, and New Jersey have the most million-dollar cities.
There was a 4.2% increase in the value of the average American house from one year ago.
The median annual increase rate for property values in cities with million-dollar markets is 4.6%.