Wednesday, May 3, 2017

Just 1 In 3 Homes Have Surpassed Their Pre-Recession Peak Price

From Bloomberg, "Most U.S. Homes Are Worth Less Than Before the Crash: Housing bubble? There are still more losers than winners in this recovery, Trulia says." by Patrick Clark [Based on a Trulia report, "The Housing Recovery That Wasn’t" by Ralph McLaughlin]:
Nationally, just 1 in 3 homes are worth more now than they were at their peak. While tech hubs in the Bay Area and Denver and job centers like Dallas or Nashville have seen home values explode past earlier highs, there are more losers than winners when you look across the country, Trulia’s analysis shows. And it’s really bad news if you live in Las Vegas, Tucson—or Fresno.

Source: Bloomberg

Many of the losers aren’t just losing—they’re getting trounced. There were 28 metros where fewer than 10 percent of homes have recovered their value since the bubble burst. Las Vegas has seen less than 1 percent of its homes returning to or surpassing what they were worth before the recession. The median sales price there is down a full $91,000 from its peak.

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Source: Bloomberg

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