#2: San Francisco
YOY Increase: 18.9%
We’re back to California. In San Francisco, prices posted a 0.5% gain from January to February but were nearly a whopping 19% higher since the same time in 2012.
San Fran is used to such big numbers, though. February’s one-year increase was a only slight improvement from the month before, when prices gained 17.5% — again the second highest improvement.
Of course, that’s not really good for anyone who actually wants to live in San Francisco. Recent reports actually say that “the city’s home prices are so appreciated, it’s nearly impossible for residents to afford living there.”
And again, it’s the same story, different city. As Housing Wire put it: “Even in the most affordable neighborhoods in the city, inventory is limited and competition is strong, with homebuyers facing all-cash offers as well as bidding wars.”