America’s Most Expensive Housing Market

By Douglas A. McIntyre Updated Sep 2, 6:24AM EDT · Published Aug 31, 8:23AM EDT

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America’s Most Expensive Housing Market — © Art Wager / E+ via Getty Images

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A recent analysis reveals that home prices nationwide reached a record high in June.
San Diego is the city where home prices have risen most since 2000.
Also: Discover the Next Nvidia.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index showed that home prices nationwide rose 5.4% in June compared to a year ago, reaching a record high. The figures did raise the question of whether homes are a good investment.

Brian D. Luke, CFA, Head of Commodities, Real & Digital Assets, said, “Before accounting for inflation, home prices have risen over 1,100 percent since 1974, but have slightly more than doubled (111%) after accounting for inflation.” In at least one metro market, the answer to whether home prices have surged is “no.”

Case-Shiller took the 20 large cities it covers and gave each an index of 100 in January 2000. This allowed the researchers to see how much prices rose in each housing market compared to the others. For example, the city with the highest index in June was 449.24, which means it is the city in which prices have risen the most over the period. The national index for June was 325.23.

The city in which the index has risen the most since January 2000 is San Diego. It is followed closely by Los Angeles, at 446.95, and Miami, at 442.69. Detroit posted the worst increase, and its June 2024 level was 190.47.

San Diego is the eighth-largest city in the United States. Its population has soared from 8765,538 to 1,328,880. The city’s median household income, at $95,657, is well above the national figure.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.