Home prices increased in 88 percent of U.S. metropolitan areas in the last three months of 2012, according to the National Association of Realtors. Wellesley College economist Karl Case estimates that consumption will be boosted $80 billion this year by the rise in house prices that has already occurred and the expectations among homeowners of more to come.

Photograph by Michael Friberg for Bloomberg Businessweek

Home prices increased in 88 percent of U.S. metropolitan areas in the last three months of 2012, according to the National Association of Realtors. Wellesley College economist Karl Case estimates that consumption will be boosted $80 billion this year by the rise in house prices that has already occurred and the expectations among homeowners of more to come.

Photograph by Michael Friberg for Bloomberg Businessweek

Median Home Prices Across the Nation

Housing's Economic Effect
Housing's Economic Effect

Home prices increased in 88 percent of U.S. metropolitan areas in the last three months of 2012, according to the National Association of Realtors. Wellesley College economist Karl Case estimates that consumption will be boosted $80 billion this year by the rise in house prices that has already occurred and the expectations among homeowners of more to come.

Photograph by Michael Friberg for Bloomberg Businessweek
Phoenix
Phoenix

Change in median home value, 2011 to 2012: +34%
Median price: $159k
Employment change, June 2009 to December 2012: +3.7%

Photograph by Kristin Lavanway
San Francisco
San Francisco

Change in median home value: +28%
Median price: $593k
Employment change: +2.7%

Photograph by Joe Tassone
Atlanta
Atlanta

Change in median home value: +18%
Median price: $107k
Employment change: +3.1%

Courtesy REMAX
Los Angeles
Los Angeles

Change in median home value: +18%
Median price: $350k
Employment change: +1.8%

Courtesy REMAX
Seattle
Seattle

Change in median home value: +17%
Median price: $313k
Employment change: +3.9%

Courtesy REMAX
Minneapolis
Minneapolis

Change in median home value: +16%
Median price: $175k
Employment change: +3.3%

Courtesy REMAX
Portland, Ore.
Portland, Ore.
Change in median home value: +11%
Median price: $242k
Employment change: +3.0%
Photograph by Quinn Irvine
New York
New York
Change in median home value: +7%
Median price: $442k
Employment change: +3.2%
Courtesy REMAX
Boston
Boston

Change in median home value: +6%
Median price: $344k
Employment change: +3.7%

Courtesy REMAX
Chicago
Chicago

Change in median home value: +2%
Median price: $167k
Employment change: +1.4%

Photograph by Dominic Di Brizzi