Many housing markets have recovered since home prices plunged during the housing crisis more than a decade ago. HSH.com’s Home Price Recovery Index—which culls data from the Federal Housing Finance Agency’s Home Price Index—shows which markets have fared best since the crisis ended.
The 10 metro areas that have recovered the most are:
1. Denver-Aurora-Lakewood, Colo.: 88.28% (amount above previous peak)
- Peak value: $276,000
- Current value: $519,000
2. Austin-Round Rock-Georgetown, Texas: 72.13%
- Peak value: $269,000
- Current value: $463,000
3. Dallas-Plano-Irving, Texas: 70.37%
- Peak value: $172,000
- Current value: $263,000
4. San Francisco-San Mateo-Redwood, Calif.: 69.85%
- Peak value: $276,000
- Current value: $470,000
5. Fort Worth-Arlington-Grapevine, Texas: 64.17%
- Peak value: $169,000
- Current value: $277,000
6. Nashville-Davidson-Murfreesboro-Franklin, Tenn.: 57.57%
- Peak value: $224,000
- Current value: $352,000
7. Houston-The Woodlands-Sugar Land, Texas: 55.35%
- Peak value: $200,000
- Current value: $311,000
8. San Antonio-New Braunfels, Texas: 44.53%
- Peak value: $215,000
- Current value: $311,000
9. Buffalo-Cheektowaga, N.Y.
- Peak value: $146,000
- Current value: $210,000
10. San Jose-Sunnyvale-Santa Clara, Calif.
- Peak value: $289,000
- Current value: $414,000
Meanwhile, Las Vegas-Henderson-Paradise, Nev., has recovered least since the housing crisis. The metro still needs a 9.24 percent uptick in home prices to regain its peak value from 13 years ago. Its housing peak value was $269,000, and its current value of $246,000 is still shy of that. But HSH.com notes that this is the first time in the last few years that the market has had a single-digit deficit, proving that prices are catching up.
Source: “Home Price Recovery Index: Which Metros Have Improved the Most, Least?” HSH.com (March 12, 2019)
