According to the latest Homes.com Rebound Report, 49 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, 49 of the 100 markets measured showed more than a 50% rebound – up from 44 markets in July’s report and further indicating progress in the recovery of home prices! Additionally, 26 markets posted a full rebound of more than 100% – up from the 22 in last month’s report.
The four newest markets to achieve a full rebound are Buffalo-Niagara Falls, NY, Rochester, NY, Louisville/Jefferson County, KY-IN, and Albuquerque, NM. Many of these top rebounding markets never dealt with the dramatic peaks and valleys experienced by some of the markets in California and Florida, areas that saw large declines during the recession.
In addition to the rebound, home prices continue to climb in the latest Homes.com Local Market Index Report. For the fifth consecutive month, all 100 top U.S. markets increased in home prices year over year.
On the opposite end of the spectrum, only 89 of the top 100 markets have experienced gains on a monthly basis. However, this may be likely due to a combination of seasonal real estate trends and a leveling in overall home prices. All of the monthly declining markets are from the South region and a majority of them have already achieved a full rebound. Six of these markets in this region have shown more than a 200% rebound.
This recent month’s price trends and rebound advancements continue to show the momentum of progress 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.