Some 19 out of the top 100 markets show a complete price recovery in July from the peak-to-trough decline amount attributable to the housing bubble – up from the 16 that showed full recovery in June.
Six of these markets again belong to the state of Texas, and two belong to Oklahoma, according to the Homes.com Rebound Report. Some 41 markets showed more than a 50% rebound – up from the 38 in June.
The Homes.com Rebound Report uses the Homes.com Local Market Index data back to 2000, but it focuses on the period from 2005 forward when identifying peaks and troughs to isolate the impacts of the Great Recession, a recently marked global economic decline that also correlated with the bursting of the U.S. housing bubble.
The Homes.com Local Market Index report tracks repeat sales of properties for both single family and multi-unit/condominium sales in separate indices for the top 100 Local Markets as determined by the U.S Census Bureau Core Based Statistical Areas (CBSAs). The Homes.com Rebound Report tracks how far each market has recovered from its peak-to-trough decline in index value attributable to the Great Recession, a recently marked global economic decline that correlated with the bursting of the housing bubble.