A number of the biggest cities in the US are seeing a boom in real estate activity as investors seek to avoid soaring house prices.
Here are the top five cities with the biggest real estate boom.
Miami: $8.4 billion in sales last year The Miami-Fort Lauderdale area has been the most popular destination for condo sales since the recession.
Sales rose nearly 17 per cent to $8 billion last year, according to Zillow.
Los Angeles: $4.9 billion in 2017 The Los Angeles area is still seeing record sales thanks to the strong economy and high wages.
Sales in the LA area hit $4 billion, up more than 20 per cent from the previous year, Zillog reported.
San Francisco: $3.8 billion in 2016 San Francisco sold more than $2.6 billion worth of condos and townhomes last year.
But the real estate market is slowing, with only $2 billion in new sales.
Denver: $2 million in sales in 2017 A Denver suburb has become the second-most popular place to buy a condo, with the average price in the region topping $2,500.
New York City: $1.7 billion in total sales The number of sales in New York rose 9 per cent last year to $1 billion.
It’s expected to continue to rise this year, with a total of more than 1,100 sales so far this year.