Prices rose in 83% of U.S. metros, and San Jose was again the most expensive.
by Laura Kusisto
The second-quarter surge in home prices made San Jose, Calif., the first city where the price of a typical home eclipses $1 million, underscoring growing affordability concerns.
San Jose was the most expensive metropolitan area in the country, with a median home price of $1.085 million, followed by San Francisco at $885,600 and Anaheim-Santa Ana, Calif., at $742,200.
Data released Wednesday by the National Association of Realtors showed year-to-year increases in home prices in 83% of metropolitan areas across the country in the second quarter, only a slight decline from the first quarter, when increases were reported in 87% of metro areas.