According to the latest Homes.com Rebound Report, 52 of the top U.S. markets showed more than a 50% rebound in the price decline attributable to the Great Recession – up from the 44 markets in last month’s report. That is now nearly half of the top U.S. markets that are significantly recovered! What impact does this have on the overall housing market in the U.S.?
The most recent Homes.com Rebound Report reveals new market performance data on the price impacts of the Great Recession and U.S. Housing Bubble. This month, 52 of the 100 markets measured showed more than a 50% rebound – up from 49 markets in the August report and further indicating progress in the recovery of home prices!
Additionally, 80 out of all 300 markets measured posted a full rebound of more than 100% – up from 77 in the previous month. The three newest markets to achieve a full rebound are all in the Midsize level and include Davenport-Moline-Rock Island, IA-IL, Santa Fe, NM, and Jefferson City, MO.
In addition to the rebound, home prices continue to climb in the latest Homes.com Local Market Index Report. For the sixth consecutive month, all 100 top U.S. markets increased in home prices year over year!
On the opposite end of the spectrum, only 90 of the top 100 gain on a monthly basis. However, this may be likely due to a combination of seasonal real estate trends and the state of recovery for these markets. Of the 49 markets that declined monthly, 18 have fully recovered their decline in home prices from the housing bubble and show signs of continued stabilization.
This recent month’s price trends and rebound advancements continued to show the momentum of progress for the recovery of home prices in the U.S. Could now be the time buy or sell your home? For more information about the rebound in your local market area, read the complete Homes.com Rebound Report on all 100 markets.
