5 Cities With the Fastest Rising Home Prices

Home prices in the U.S. rose tremendously in 2013, but in these five markets, housing prices have risen by more than 18%.

Feb 2, 2014 at 12:30PM

According to the latest data, housing prices had their best November since 2005 according to the S&P/Case-Shiller Home Price Index.

Home prices generally dip downwards in November, and while the average home price fell by a fraction of a percent (0.1% to be exactly), the chairman of the Index Committee, David Blitzer, noted that even despite the dip, "November was a good month for home prices."

The steady road to recovery
Although home prices plummeted following the financial meltdown and subsequent bursting of the housing bubble, 2013 has marked a year where home prices have rebounded significantly. Through the end of September last year, the average home price in the U.S. grew by nearly 12% since January, and prices in the major 20 cities measured in the Case-Shiller Index grew by 13.5%.

While there was wide variation in the rate of that price growth, ranging from 6% to 25%, there were still encouraging signs in all cities as home prices rose, even despite the rising mortgage rates. It is also widely anticipated that home prices will rise in 2014, just at a slower rate than what was seen in 2013.

To see which cities have watched their prices rise the most this year, as well as the national trends, check out the infographic below.

Beyond housing
Housing prices have rebounded, and so too has the stock market. But thankfully, there's still one stock with room to make huge returns. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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