Homeowners in These States Are Still Underwater From the Housing Crash

Home prices in fourteen states in the U.S. have not yet bounced back to pre-recession levels. New research measures the difference in percentage from a state's pre-crisis home price to its current home price.

Nevada's precrisis home price peak was in March 2006. While it may be good news that the state's overall market is nearly up 100 percent from its lowest price depths at 93 percent, it has not regained its former peak, as the peak-to-current price change sits at -23 percent, Business Insider reports. The state with the narrowest margin between peak and current home price is Mississippi, at -1 percent. Mississippi's peak was in November 2006. 

American households lost $16 trillion in net worth because of the housing and credit crisis of the late 2000s, according to CoreLogic. Since then, there's been a long and slow slog to recovery. Compared to the peak of the national housing market in 2006, US home prices are about 1 percent higher, on average ... Home prices at the pre-crash peak were far from normal; that's why a bubble formed and then popped. Yet some homeowners who bought at the market top and survived the crash would sell at a loss today.

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