The U.S. now boasts a record 550 “million-dollar” cities, where the typical home is worth $1 million or more, according to a new analysis by Zillow.
California had the most cities with homes valued over $1 million, totaling 210. New York had 66, while New Jersey — which experienced the largest year-over-year increase — had 49.
Zillow noted that limited housing inventory keeps pushing home values up, and according to the National Association of Realtors, prices are expected to remain elevated this spring.
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Any home or average home value? Either I think there are so many more regarding the prior, or I’m amazed there are so many if the latter