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The 10 Fastest-Growing Housing Markets

Home prices are soaring, increasing at their fastest rate in seven years.

According to the Case-Shiller index, home prices shot up 10.9% in March – their largest annual gain since 2006. Housing markets all over the country are showing true signs of progress for the first time since the recession. In fact, six of the 20 largest U.S. cities saw home prices increase by 15% or more in March.

Here is a list of the 10 fastest-growing U.S. housing markets as measured by home prices:

1. Phoenix

Market Size: 12

YoY Home Price Increase: 22.5%

2. San Francisco

Market Size: 6

YoY Home Price Increase: 22.2%

3. Las Vegas

Market Size: 42

YoY Home Price Increase: 20.6%

4. Atlanta

Market Size: 8

YoY Home Price Increase: 19.1%

5. Detroit

Market Size: 11

YoY Home Price Increase: 18.5%

6. Los Angeles

Market Size: 2

YoY Home Price Increase: 16.6%

7. Minneapolis

Market Size: 15

YoY Home Price Increase: 12.5%

8. San Diego

Market Size: 28

YoY Home Price Increase: 12.1%

9. Tampa

Market Size: 13

YoY Home Price Increase: 11.8%

10. Miami

Market Size: 16

YoY Home Price Increase: 10.7%

The good news for housing markets has been good news for the stock market. The S&P 500 climbed 1% in morning trading today, recovering almost all of last week’s losses. Housing stocks were also up, though not as much as you’d think. XHB and ITB, the two ETFs that track the housing market, are up 1% and 0.3%, respectively.

Long term, however, rising home prices bodes quite well for housing stocks, which were already up roughly 17% year-to-date entering the week – outpacing the 12.8% gains of the S&P.

For the first time since the subprime mortgage crisis, the housing market has some clear momentum, as evidenced by the 10 fastest-growing housing markets above.

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