The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 3.6% year over year, largely driven by a low supply of houses on the market.
In December, the median price for a home nationwide was $405,502, while Milwaukee's median price increased by 6.6%, making it the best city for sellers.
Milwaukee's homes sell quickly, with a median of only 45 days on the market, indicating strong demand compared to the national average of 70 days.
The relatively low home values in northern industrial cities like Milwaukee, Detroit, and Cleveland might be contributing to the rising prices, although evidence is inconclusive.
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