Los Angeles, Ca
Sticker shock: Home prices doubled in under 7 years in these major U.S. cities
(NEXSTAR) – Stunned by skyrocketing home prices? You’re not alone.
In 68 of the largest U.S. cities the average price has more than doubled in less than 10 years, a recent study by Point2Homes found.
“A common home appreciation theory is that residential properties tend to double in value in about 10 years,” the study notes. “But this good news for investors spells bad news for buyers, considering that most of the country’s major cities had home prices double even faster than that.”
Recent buyers in Spokane, Tampa, and Buffalo, for instance, may look back wistfully to 2017 when the average price was less than half of what it is now.
As recently as 2019, homes in Detroit, where prices have doubled the quickest, were half what they are now, the study found.
Looking at home prices in recent years may be the most painful for new homeowners in Irvine, California, however, which was the most expensive housing market on the list, jumping from $750K to $1.5 million in seven years.
In terms of overall highest prices, eight of the top 10 most expensive U.S. cities in the fourth quarter of 2023 were in California, led by San Jose-Sunnyvale-Santa Clara ($1,750,300), San Francisco-Oakland-Hayward ($1,251,000), Salinas ($993,900) and San Diego-Carlsbad ($931,600), according to National Association of Realtors data.
See the top 20 cities when it comes to home prices doubling in the shortest amount of time:
Rank
City
Years It Took To Double
1
Detroit, MI
4.9
2
Spokane, WA
5.9
3
Tampa, FL
6
4
Miami, FL
6
5
Baltimore, MD
6.1
6
Scottsdale, AZ
6.2
7
Buffalo, NY
6.4
8
St. Petersburg, FL
6.6
9
Jersey City, NJ
6.8
10
Phoenix, AZ
6.8
11
Gilbert, AZ
6.8
12
Mesa, AZ
6.9
13
Cleveland, OH
6.9
14
Charlotte, NC
7
15
North Las Vegas, NV
7
16
Chandler, AZ
7
17
Cincinnati, OH
7
18
Boise, ID
7.1
19
Milwaukee, WI
7.1
20
Tucson, AZ
7.1
In February, 2024 home prices across the country were up 6.4% year-over-year, according to Redfin, with an average sale price of $411,887.
Cleveland, Ohio led all metros in growth last year (25.5%), followed by Birmingham, Alabama (24.4%); Boca Raton, Florida (22.5%); Richmond, Virginia (19%); Fort Wayne, Indiana (18.6%); Dallas, Texas (16.9%); Miami Beach, Florida (16.7%); Cincinnati, Ohio (15.9%); Meridian, Idaho (15.6%); and Lexington-Fayette, Kentucky (15.5%).
“Homeowners have benefited from housing wealth accumulation. However, many homebuyers have been shocked at high housing costs, with a typical monthly mortgage payment rising from $1,000 three years ago to more than $2,000 last year,” said NAR Chief Economist Lawrence Yun.
Amid persistently high prices, prospective home buyers have at least one source of hope this year, thanks to a bombshell legal settlement.
In March, the National Association of Realtors announced that it had agreed to pay $418 million to settle lawsuits over commissions traditionally tacked onto the home-buying transaction.
The new rules also allow home buyers and sellers to negotiate lower agent commissions instead of the typical 5-6% of the sale that is currently split by brokers on both sides of the deal.
Changes to the rules will take effect in mid-July.
Los Angeles, Ca
Remains of murder victim identified as missing Southern California millionaire
After more than four decades, the remains of a woman who was found buried in the mountains of Riverside County were identified as a multi-millionaire who went missing in 1981.
The body of Thelma Gaston was discovered by a person gathering firewood in a mountainous area near Sugar Loaf Mountain and the Pinyon Crest community on Nov. 28, 1981.
After experiencing a series of heartbreaking life events, including the death of her husband and her 32-year-old son in the same year in 1957, Gaston continued forging ahead, focusing on her business of buying repossessed properties and selling them.
By 1980, she had amassed a fortune estimated to be over $20 million, SFGATE reported.
On June 28, 1981, a note was left on the front door of her home near Century City, saying she was out searching for her cat. However, she never returned home and her loved ones did not hear from her.
By then, Gaston was 80 years old. As Los Angeles Police Department detectives investigated her disappearance, they discovered a younger man, Lawrence Remsen, then 39, had recently entered her life and was the woman’s romantic companion, SFGATE reported.
At one point, the woman’s friends said Gaston had wondered about Remsen’s motives in being with her.
Police eventually found letters and documents reportedly signed by Gaston that gave Remsen power of attorney. Another letter allegedly written by the woman claimed she had run away “to have some fun in life.” However, her friends said the move was completely out of character.
Detectives later confirmed the letters were certified with a stolen notary stamp and her signatures were believed to be forged.
Remsen had tried selling some of Gaston’s properties and attempted to withdraw more than $100,000 from her bank accounts. Remsen eventually fled the Southern California area.
A few months later, he was arrested by border agents when he tried to enter the U.S. from Mexico. He was charged with Gaston’s murder even though the woman’s body had not been found.
During a trial hearing, Remsen later claimed he found the woman dead of natural causes in her home and, attempting to take her fortune, had disposed of her body in the ocean.
The judge disagreed and later ruled that Remsen had killed the woman “intentionally and with malice.” He was convicted of murder and sentenced to life in prison.
Gaston’s body was later discovered buried in a shallow grave in the mountains. However, due to the poor condition of the remains, investigators were unable to narrow down an identity.
A breakthrough occurred in 2022 when the Riverside County Sheriff’s Coroner’s Bureau received new funding to reexamine long-standing unidentified cases.
“Combined with significant advances in forensic science, this funding opened new avenues for identification,” the sheriff’s office said.
In May 2026, utilizing investigative genetic genealogy and dental records, the remains were positively identified as Gaston’s.
“The Riverside Sheriff’s Coroner’s Bureau extends its sincere appreciation to everyone whose dedication, expertise, and perseverance made this identification possible,” officials said in a statement. “Together, these efforts have ensured that Ms. Gaston has her name—and her story—returned to her.”
Remsen, who is now 83 years old, continues serving his life sentence at the California Institution for Men in Chino.
Los Angeles, Ca
Southern California hits hottest day of its extreme heat warning
Southern California remains under an extreme heat warning as residents brace for the hottest day of the week on Wednesday.
“It will be roasty toasty in the valleys, lower mountain elevations and far interior, with highs ranging from 100 to 110 degrees,” the National Weather Service said. The warmest conditions are expected in the western San Fernando Valley.
An extreme heat warning remains in effect for much of Southern California until 8 p.m. Thursday. Forecasters say there is a high risk of heat-related illness for anyone outdoors for extended periods. Heat advisories are also in place for areas along the coast.
“Highs for today: 98 in Ojai, 100 in Ontario. Temecula, good morning to you, 100 degrees expected there. 112 in Palm Springs. Unbelievably hot,” KTLA’s Kirk Hawkins said Wednesday morning.
Residents are urged to adjust their afternoon plans to limit strenuous outdoor activities during the heat of the day, stay hydrated and check in on elderly neighbors and loved ones.
The Weather Service said record highs are slightly warmer than those forecast for Wednesday. As a result, despite the extremely hot conditions, few, if any, temperature records are expected to be broken.
A few degrees of cooling are expected Thursday, but a more significant cooldown will arrive Friday as onshore winds increase.
Afternoon highs are expected to cool even more over the weekend, with below-average temperatures possible in some areas.
Los Angeles, Ca
Stabbing at Chino Hills liquor store ends in attempted murder arrest
A Chino Hills man was arrested on suspicion of attempted murder following a violent incident at a local liquor store, authorities announced Tuesday.
The July 13 incident occurred around 5 p.m. in the 4000 block of Descanso Avenue, according to the San Bernardino Sheriff’s Department, which responded to reports of a stabbing at the location.
Arriving deputies found a stabbing victim inside the store and rendered medical aid until personnel with the Chino Valley Fire District arrived. The victim was transported to Pomona Valley Hospital Medical Center, where he remains in stable condition.
While being treated at the scene, investigators said the victim repeatedly stated that someone named Alex was responsible for the attack.
The suspect, now identified as Hayden Alexander Marquez, 30, was located not far from the liquor store and taken into custody, sheriff’s officials said.
Investigators did not provide a motive for the stabbing or detail the relationship between the two men.
Marquez was booked into the West Valley Detention Center on suspicion of attempted murder.
Anyone with information about the investigation is urged to contact the Chino Hills Police Station at 909-364-2000. Those wishing to remain anonymous can call the We-Tip hotline at 800-78-CRIME or submit tips online at www.wetip.com.
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