REAL ESTATE NEWS
Cities where home prices are hitting new highs
While home values nationwide are still down 13.5% from their pre-housing bust peaks, prices in these major housing markets have recovered -- and then some, according to Zillow.
San Jose, Calif.
- Home value now*: $759,100
- Housing boom peak: $742,000
Tech is on a tear and it has been heating up the Silicon Valley real estate market.
"There's a lot of tech IPOs just minting money," said Humphries.
Home values climbed by more than 13% in the 12 months ended in March, according to Zillow. And that has pushed prices to levels not seen since before the housing bubble burst.
The old housing value peak of $742,000, set in April 2007, was passed last October and the market has gone up every month since.
Even the most modest three-bedroom homes can cost a cool million here. And Zillow is not anticipating that this market will lose momentum anytime soon. It expects prices to climb another 5% within the next 12 months.
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