Nineteen real estate markets have made more than a 100 percent recovery from the housing crash, and their median prices now exceed the very highest prices achieved during the housing boom of 2003 to 2007, according to Homes.com.
The number of fully healed markets is up from 14 markets posting a full recovery in April’s report and 9 in the prior month. Thirty-nine show more than a 50 percent rebound, up from 35 markets in the previous report.
However soft prices in May resulted in marginal price decreases for several of the fully recovered markets, though none fell so far as to lost their place on the list. Markets declining in June were Dallas (-0.27), Houston (-0.30), San Antonio (-0.31), Austin (-0.30), El Paso (-0.30) and McAllen (-0.29).
Homes.com reports that 83 of the top 100 markets saw increases monthly increases in, off from all 100 markets improving in April. Markets with decreases in index values were marginal, with the largest decrease only 1.12 index points in Worchester, Mass.
- New Orleans-Metairie-Kenner, La. showed the largest month-over-month improvement with an increase of 6.09 index points.
- Honolulu, Hawaii remains the top gaining market on a year-over-year basis.
- California markets [San Francisco-Oakland-Fremont, Calif.; Los Angeles-Long Beach-Santa Ana, Calif.; and San Diego-Carlsbad-San Marcos, Calif.] increased year over year by 21.05, 20.73 and 18.21 index points respectively
- Seven of the top 10 monthly gaining markets are in the West, two are from the Northeast, and one is from the South.
- Eight of the top 10 markets are from Texas and Oklahoma, with five exceeding a 200 percent rebound
- Two markets in Colorado exceeded a 100 percent rebound. Denver-Aurora-Broomfield and Colorado Springs, Colo. rebounded 119.97 percent and 109.82 percent respectively.
Markets on the Rebound List