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s companies call employees back to the office, more people are moving closer to their workplaces, increasing competition among buyers in cities with limited housing supply. In San Jose, this has led to fierce competition and above-asking prices, with homes selling 6.2% above their asking price on average.

    The rise of remote work had previously freed many Americans from daily commutes, allowing them to live wherever they chose. Many left bustling cities in the Northeast and West Coast for smaller spots in the South, where the cost of living is lower and the climate is more enjoyable. However, as businesses summon employees back to the office, former remote workers are returning to their old cities or moving to commutable areas.

    This has contributed to increased buyer competition in several cities across the country. An interest rate cut announced by the Federal Reserve is expected to lower mortgage rates, enhancing purchasing power and encouraging more homebuyers and sellers to enter the market. Realtor.com analyzed sale and listing price data from 75 US metropolitan areas to determine where homes sell for the most above their asking prices.

    San Jose leads the nation in this regard, with its median home price of $1.3 million and a 6.2% premium on average sale prices. The city's vibrant tech scene, which includes major players like PayPal, eBay, and Adobe, draws a steady influx of tech professionals, driving up demand for housing despite a perpetual shortage.

    Return-to-office policies from companies like Google, Zoom, and Amazon are expected to make the San Jose market even hotter. As tech workers return to the Bay Area, sale prices will likely rise, especially if interest rates continue to fall.

    Here are the top 10 US cities where homes sell for the highest amounts above their asking prices:

    1. San Jose (6.2% above asking price)

     * Median home price: $1.3 million

    2. Hartford, Connecticut (4.8% above asking price)

     * Median home price: $210,000

    3. Kansas City (4.3% above asking price)

     * Median home price: $260,000

    4. San Francisco (3.6% above asking price)

     * Median home price: $1.15 million

    5. Buffalo, New York (3.1% above asking price)

     * Median home price: $220,000

    6. New Haven, Connecticut (2.7% above asking price)

     * Median home price: $350,000

    7. Bridgeport, Connecticut (1.9% above asking price)

     * Median home price: $375,000

    8. Worcester, Massachusetts (1.6% above asking price)

     * Median home price: $499,000

    9. Richmond, Virginia (1.3% above asking price)

     * Median home price: $379,950

    10. Boston (1.1% above asking price)

     * Median home price: $949,950