Map Shows Urban Areas Where Home Prices Are Increasing Most
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Home prices climbed in 75 percent of U.S. metropolitan areas in the second quarter of 2025 compared to a year earlier, according to a new report by the National Association of Realtors (NAR).
These increases are happening even as inventory surges across the country and demand is made sluggish by historically elevated mortgage rates, sky-high prices, and growing economic uncertainty.
But the latest figures show a slowdown in the pace of price growth across the country. In the first quarter of the year, as many as 83 percent of U.S. metros reported annual increases in home prices—8 percent more than in the second quarter. Only 5 percent of metros reported double-digit increases between April and June, down from 11 percent between January and March.
What Is Happening in the US Housing Market?
Home prices have skyrocketed all across the country since the pandemic, when a homebuying frenzy unleashed by low mortgage rates clashed with a chronic lack of inventory. The median sale price of a typical U.S. home was $446,766 in June, according to Redfin, up 1 percent from a year earlier, but 44 percent from June 2020.
While there is still a significant shortage of homes compared to what Americans would need, inventory has been growing in recent months. There are now over 2 million homes for sale nationwide.
This recent surge happened partly because more sellers stopped waiting for mortgage rates to go down and returned to the market this year, and partly because many of these listings are taking longer to sell or are remaining unsold due to the ongoing affordability challenges faced by buyers.
The current imbalance between sellers and buyers in the U.S. market is putting downward pressure on home prices. Even if they have not significantly come down yet—at least not at the national level—buyers have acquired more negotiating power and sellers are being forced to slash prices to make their properties more attractive.
Where Have Home Prices Climbed the Most, and Why?
Despite the current dynamics at play in the U.S. housing market, there are still markets that are resisting the price correction that is already ongoing in places like Austin, Texas, or Tampa, Florida, which became particularly overheated during the pandemic.
"Home prices have been rising faster in the Midwest, due to affordability, and the Northeast, due to limited inventory," said NAR Chief Economist Lawrence Yun in the report. "The South region—especially Florida and Texas—is experiencing a price correction due to the increase in new home construction in recent years."
These are the top 10 U.S. metropolitan statistical areas (MSA) with the biggest year-over-year median price increases for single-family homes in the country as of the second quarter of the year:
Toledo, Ohio (10.5 percent) Jackson, Mississippi (10.5 percent) Nassau County-Suffolk County, New York (9.6 percent) New Haven-Milford, Connecticut (9 percent) Reading, Pennsylvania (8.3 percent) Springfield, Missouri (8.2 percent) Akron, Ohio (8.1 percent) Montgomery, Alabama (7.9 percent) Cleveland-Elyria, Ohio (7.8 percent) Rochester, New York (7.8 percent)
In some of these cities, prices are growing because the supply of homes for sale remains limited. In others, like Toledo, prices are shooting up as a result of increased demand due to their relative affordability.
At the national level, the median single-family home price grew 1.7 percent year-over-year in the second quarter of the year to $429,400. It was a record high, even as the pace of this growth slowed down significantly from the first quarter of the year, when the median single-family home price was up by 3.4 percent from 2024.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Americans are hoarding more cash, but not in checking or savings. Here are the accounts rewarding savers today
Consumer spending remains strong in the U.S., even as inflation holds at 2.7% and checking and savings balances decline. So, where's the money coming from? New research from JPMorgan Chase's Household Finances Pulse analysis may offer an answer. Analyzing data from 4.7 million households, the study found that while traditional bank balances have stagnated, total cash reserves — including money market funds, brokerage accounts, and certificates of deposit (CDs) — are growing 3% to 5% annually in 2025. The biggest gains are among lower-income households, with those in the lowest income quartile seeing 5% to 6% growth in total cash reserves. This shift toward higher-yield accounts may help explain why consumer spending remains resilient, despite economic headwinds. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Where are Americans putting their money? Instead of parking funds in checking or standard savings accounts, many households are turning to investment-style options with higher returns. If you're considering a similar move, here are a few of the most popular alternatives: High-yield savings accounts (HYSAs): These work like traditional savings accounts but offer higher interest rates — often between 4% and 5% APY as of mid-2025 — often offered by online banks with lower overhead. Certificates of deposit (CDs): CDs lock your money in for a fixed term in exchange for a guaranteed return. Rates vary by term but can exceed 4% for longer durations. Money market accounts (MMAs): Offered by banks, MMAs combine savings features with limited check-writing abilities, FDIC insurance, and competitive yields — though often slightly below HYSAs. Money market funds (MMFs): These are investment products, not bank accounts. While not FDIC-insured, they invest in low-risk, short-term securities and are considered a stable alternative to cash. Brokerage accounts: These accounts allow you to invest in stocks, ETFs, and mutual funds. While more volatile, they offer higher long-term growth potential. Retirement accounts (401(k)s, IRAs): Though designed for long-term saving, increased contributions to these tax-advantaged accounts suggest many households are focused on future financial security. Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. What to consider when choosing an investment vehicle While chasing higher yields can make sense, it's important to weigh your financial goals, risk tolerance, and liquidity needs before making a move. Here are a few factors to keep in mind if you're considering moving money to an investment account: Purpose of the funds: Are you saving for an emergency, a home, or retirement? Liquid needs (like an emergency fund) should stay in accessible, low-risk accounts like a HYSA or MMA. Funds you won't need for a year or more could go into CDs, while longer-term goals (more than five years) may be better suited for brokerage accounts invested in stocks or bonds. Risk tolerance: Investments like stocks carry market risk. You risk losing value if you're forced to sell during a downturn. If protecting your principal is top priority, consider lower-risk options like CDs or MMFs, keeping in mind that MMFs are not FDIC-insured. Liquidity needs: Some products, like CDs, charge penalties for early withdrawals. If you might need quick access to your funds, choose options that keep your money available. A CD ladder — holding multiple CDs with staggered maturity dates — can help balance yield and liquidity. Americans continue to adapt to economic pressures. While inflation still erodes purchasing power, the rising use of high-yield financial tools may be helping households preserve — and even grow — their cash reserves. Whether this marks a long-term shift in consumer behavior remains to be seen. For now, it remains a quiet force helping to keep the economy afloat. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
The Hill
2 hours ago
- The Hill
Dismantling the Justice Department tax division will cost us billions
The Department of Justice is poised to make a grave mistake: dismantling its tax division, America's frontline defense against ultra-wealthy tax cheats. As sophisticated tax fraud surges, gutting this division would severely weaken enforcement and deterrence, inviting more evasion by the ultra-wealthy. It would send a message to those at the top: complex evasion schemes will go unpunished. Tax enforcement in the U.S. is already on life support, with tax evasion costing U.S. taxpayers approximately $447 billion each year, a figure that dwarfs popular claims of government waste. Yet fraud prosecutions haven't just declined over the last decade; they've collapsed, dropping nearly 50 percent between 2014 and 2023. Shockingly few big-time tax evaders face justice, with only 363 individuals convicted of criminal tax fraud in 2023. As one IRS investigator candidly told us, 'There's never been a better time to commit tax fraud.' Without a Department of Justice tax division, that is bound to get much worse. The stakes could not be clearer. Consider a few recent successes from the tax division's record. In the Anderson Ark case, the division unraveled an offshore evasion scheme, recovering nearly $100 million for taxpayers and shutting down a fraud operation that victimized thousands of Americans. It also secured a stunning $2.6 billion plea deal from Credit Suisse for its role in helping wealthy Americans evade taxes. In the ongoing case involving the late billionaire Robert Brockman, prosecutors are pursuing more than $1.4 billion in taxes and penalties from alleged offshore income, making it the largest individual tax fraud indictment in U.S. history. These cases highlight the tax division's extraordinary value. Its specialized prosecutors consistently recover far more than the division's modest $106 million budget, making it one of the federal government's smartest investments. The Credit Suisse settlement alone recovered more than the division spent in two decades. This is exactly the kind of return taxpayers deserve. Without a centralized tax division, complex cases like these will likely go unseen and unprosecuted. For example, cases like Anderson Ark, which span the country and extend overseas are likely to be ignored by regional U.S. Attorneys' offices, which are focused on local priorities. The biggest, most complex cases require concentrated expertise, along with the resources and institutional attention span that regional offices lack. The Brockman case alone required five expert prosecutors over seven years. Distributing elite tax litigation specialists to regional offices, where they'll be assigned cases outside their expertise, isn't just inefficient. It's demoralizing. Some of the tax division's top prosecutors have already resigned in anticipation of the restructuring. The inevitable result is emboldened tax evaders and billions in lost revenue and penalties. It also sends a clear message to taxpayers: The Department of Justice is no longer cultivating the deep expertise needed to prosecute complex tax fraud. If your scheme is sophisticated enough, you will likely get away with it. If you are ever indicted, you will fight it, knowing the Department of Justice lacks the focus and firepower to win. Our tax system fundamentally depends on voluntary compliance and public trust. Weak enforcement threatens both. The top 1 percent already evade taxes at three times the rate of taxpayers in the bottom half of the income scale. The automated matching systems the IRS relies on aren't designed to catch billionaires; they disproportionately target middle-income earners with straightforward returns. Catching sophisticated tax evaders requires equally sophisticated enforcement, precisely what a robust, centralized tax division provides. Without it, wealthy tax cheats will increasingly view evasion as a low-risk gamble, leaving billions unpaid and forcing ordinary Americans to cover the difference. Congress and Department of Justice leadership must recognize what is at stake and reverse course. The tax division is not just another bureaucratic unit. It is America's strongest defense against sophisticated tax fraud and financial crime. The division deserves reinforcement, not dismantling. This isn't a political issue, but one of fundamental fairness. Preserving and strengthening the tax division will uphold justice, reinforce public trust and save taxpayers billions. Corey Smith, a 33-year Department of Justice tax division veteran, led the Brockman criminal prosecution as senior counsel. Jens Heycke is the author of 'Death, Taxes, and Turduckens: Unraveling History's Biggest Tax Heist and the Broken System That Enabled It.'
USA Today
3 hours ago
- USA Today
Changing jobs? How to protect your 401(k) from hidden fees
If you're not careful, 401(k) fees can eat away at your retirement savings. Here's what to know. A U.S. Government Accountability Office study reported that 41% of American workers are unaware that 401(k) plans carry fees. Yet these fees can cost a workers thousands (and thousands) of dollars throughout their working years, leaving them with smaller retirement accounts than expected. It's common to lose track of fees when deciding whether to roll your existing 401(k) over or leave it where it is. However, it's essential to know how much you're paying in 401(k) fees and the effect they'll have on your retirement account. Here's what you need to know about 401(k) fees when changing jobs, where to find them, and how to control them. If you're not changing jobs, these tips can help you take control of an existing 401(k) and the amount you're paying out in fees. 401(k) fees add up If you're changing jobs, it's possible that your old employer paid your retirement account fees on your behalf while you worked there. However, once you move on from the job, it's unlikely that the company will continue to cover those fees. If that's the case, your old retirement account may be exposed to fees you know nothing about. Let's say one of the fees you're suddenly responsible for paying is a $4.55 monthly non-employee account maintenance fee. You could lose $17,905 in fees throughout your career. More: Americans believe this is the No. 1 obstacle to saving for retirement Get a copy of your 401(k) fee schedule Whether it's an old account managed by a former employer or an account you're opening with your new employer, you need to know exactly where to find fee information. A fee schedule is typically buried deep in the 401(k) plan document, making it difficult to find. Knowing what to look for is the key. Your employer must provide documents detailing how much you're paying in fees. The fee-specific document is often called the 401(a)(5) fee disclosure, although it may have another name. If you don't have a copy somewhere at home, you can typically find it on your plan's website or through your company's human resources department. What to look for 401(k) plans label their fees with a variety of names. Here are some of the most common names: As you review the Participant Fee Disclosure, note any terms that suggest a fee. How to know if you're paying too much All 401(k) plans charge fees, and you can't avoid paying them. However, there are steps you can take to keep your costs to a minimum. 401(k) fees usually range from 0.5% to 2% or more of plan assets annually. If the fees associated with your retirement account are more than 0.5%, you're probably paying too much. The chunk of money going to fees each year represents money you could have kept in your retirement account and allowed to grow. What you can do to control 401(k) fees While you won't find a prospectus that covers your 401(k) as a whole, you will find individual prospectuses for each fund in your 401(k). A prospectus is a document that gives you detailed information about each investment, including objectives, expected outcomes, risks, and fees. Most plan administrators provide these documents online. If not, contact your 401(k) administrator or HR department. You may not be able to eliminate fees entirely, but here's what you can do to reduce them: 401(k) fees may not actually be "hidden," but they can definitely be a challenge to find. Knowing how to find them could be your superpower, your way of redirecting money once spent on fees toward investments. The Motley Fool has a disclosure policy. The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY. The $23,760 Social Security bonus most retirees completely overlook Offer from the Motley Fool: If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets"could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. JoinStock Advisorto learn more about these strategies. View the "Social Security secrets" »
