REUTERS/Mike Segar
Men push a float representing a foreclosed home during the "Main Street to Wall Street" rally in New York, April 29, 2010.
- The average home value has risen 16% since the 2008 housing crisis.
- Prices have risen by as much as 75% in the hottest markets.
- Data from Sharestates show San Francisco, Austin, and Boston have seen the biggest increases.
Home prices have skyrocketed since the housing crisis that shook the US economy in 2008, but nowhere more so than San Francisco.
New data compiled by Sharestates, an online real-estate investing platform, show the increase of home prices in Silicon Valley more than triples the growth in other large American cities. Average growth in the country was 16.3%, the firm's data show.
Sharestates, which allows investors with a net worth of at least $1 million to invest as little as $1,000 in real-estate projects listed on its site, processes roughly $36 million of investments each month. It calculated the changes using a proprietary method that blends data from the official US census, Zillow, and its own internal data.
"With property prices on the rise and interest rates relatively low by historical standards, home fixing and flipping is on the rise again," CEO Allen Shayanfekr said. "However, unlike the period that led up to housing crisis, the lending environment has changed with more scrutiny over loan-to-value and loan-to-cost ratios required to finance new projects."