As it has done in San Francisco, the tech industry has brought explosive growth -- and big paychecks -- to the San Jose metro area.
The population has boomed here as Silicon Valley firms continue to hire tech talent. All those well-paid techies have money to spend on everything, including housing, which has boosted prices for everyone.
Another factor adding to the sky-high prices: The area is hemmed in by the Pacific Ocean and San Francisco Bay, limiting where developers can build. That drives up land prices, helping to make the housing market one of the nation's most expensive.
From Los Altos, Calif. to Brooklyn, N.Y., these 20 cities had the highest number of home sales exceeding $1 million during the 12 months ended June 30, 2013.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.48%||4.38%|
|15 yr fixed||3.49%||3.42%|
|30 yr refi||4.47%||4.37%|
|15 yr refi||3.48%||3.41%|
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