Last month, I attended NAHB’s midyear meeting in Miami and had the pleasure of sitting in on a presentation by Daniel Swift, president and CEO of Des Moines-based architecture group BSB Design.
8 cities with the best home price recovery
The S&P Case-Shiller Home Indices showed a national decline, but eight cities are showing positive rebounds from their earlier lows
The latest Case-Shiller Home Price Index report showed prices were down 3.9 percent on a national basis.
But as we all know, real estate is local and not every market is faring the same.
Here are the eight cities that have seen the biggest recovery (of those used in Case-Shiller) in home prices from their post-crash lows. In many cases, these cities are still well off of their housing-bubble peaks, but they have made the most progress, percentage-wise, from the trough.
- Detroit, up 13.5 percent
- Washington, D.C., up 13.3 percent
- San Francisco, up 13.2 percent
- Minneapolis, up 8.4 percent
- Chicago, up 7.6 percent
- San Diego, up 6.4 percent
- Boston, up 5.9 percent
- Los Angeles, up 5.5 percent
On the other hand, three cities - Atlanta, Las Vegas and Phoenix - hit their lowest point yet in the latest index, so the recovery certainly isn't everywhere yet.