Housing Markets That Have Shattered Previous Price Peaks

Dated: 10/27/2018

Views: 169

Housing Markets That Have Shattered Previous Price Peaks

Home prices are showing some signs of cooling, but in a handful of markets, some homeowners likely won’t notice much. That’s because homeowners who have owned their home since before the recession have seen their home prices jump by 50 percent—even up to 80 percent.

A calculator with a trail of calculations on paper

brgusto - Morguefile 

Median home prices are above pre-recession levels in 69 percent—or 103--of the 150 metro areas tracked, according to a new report from ATTOM Data Solutions. Median home prices nationwide in the third quarter were 11 percent higher than the prerecession peak of $230,000 in the third quarter of 2005, and 77 percent higher than the postrecession median of $145,000 in the first quarter of 2012. In the third quarter of 2018, the median home price was $256,000.

Home prices in Dallas-Fort Worth, Texas, have surged the most in the country from their prerecession peaks, climbing 86 percent higher. Houston, Texas, and Kennewick-Richland, Wash., also have seen median home prices surge 80 percent higher than their prerecession peaks.

ATTOM prerecession highs chart. Visit source link at the end of the article for more information.

© ATTOM 

On the other hand, median home prices in the third quarter were below their prerecession peaks in 47 of the 150 metro areas tracked. The markets that saw the biggest dips are Montgomery, Ala. (32 percent below); York, Pa. (32 percent below); Atlantic City, N.J. (30 percent below); Naples, Fla. (20 percent below); and Cape Coral-Fort Myers, Fla. (16 percent below).

Source:  “U.S. Median Home Price Increases 4.8 Percent in Q3 2018, Slowest Rate of Annual Appreciation Since Q2 2016,” ATTOM Data Solutions (Oct. 23, 2018)

Latest Blog Posts

Best Time To Sell When Competition Is At An AllTime Low

Best Time to Sell? When Competition Is at an All-Time LowIn a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because

Read More

Taking Advantage Of Homebuying Affordability In Todays Market

Taking Advantage of Homebuying Affordability in Today’s MarketEveryone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding

Read More

New Index Reveals Impact Of COVID19 On Real Estate

New Index Reveals Impact of COVID-19 on Real EstateEarlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the

Read More

Three Reasons Homebuyers Are Ready To Purchase This Year

Three Reasons Homebuyers Are Ready to Purchase This YearA recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of

Read More