The Share Of Homes That Have Recovered Pre-Recession Peak Value

[William Hull]

A recent study, utilizing data from popular website Trulia, has been able to provide us with an insight into how housing prices have recovered compared to the prices observed between pre-recession and post-recession era. While only as little as 34.2% of homes have been able to surpass the previous peak across the country, the scenario varies widely zip code to zip code and county to county. It is probably no surprise that Denver has come out top on the list, with a whooping recovery rate of 98.7% and median home prices averaging at $356K. Other major cities followed the trail, San Francisco coming at second with a recovery rate of 98% and Oklahoma City standing at 94.3% and proudly holding the third place in terms of recovery rate. Also made the Top 10 was the Nashville, Fort Worth, Colorado Springs, Wichita, Tulsa, Dallas and Honolulu. The capital city Austin also performed pretty good, standing at a 84.6% recovery rate. Even though other major cities like Atlanta, Chicago and New York did recover quite a bit, they didn't make the top 40. The worst performer on the list was Las Vegas, with a very low recovery rate of only 0.8%. Tuscon, Frenso, Camden, Lake County and Fort Lauderdale also followed the trail of Las Vegas, Dominating the bottom 100 with alarmingly low recovery rates of 2.4, 2.5, 2.7 and 2.7 % respectively

Key Takeaways:

• Several cities have had its real estate market reach even or higher levels of value compared to before the recession.
• Denver, Colorado has had the fastest growth rate in market value since the recession.
• Wichita, although a smaller city, is in the top ten for growing market value since the recession.

"Nationally, just 34.2% of homes have surpassed the previous peak, but recovered share varies widely by metropolitan area and ZIP code."

Read more: https://www.forbes.com/sites/samanthasharf/2017/05/03/full-list-the-share-of-homes-that-have-recovered-pre-recession-peak-value-by-metro-area/