Despite current bullish market conditions, many U.S. markets are still grappling with housing recovery. A new infographic depicts where markets have recovered, and where they have not.
By 2017, several markets had still not regained their 2007 median home value levels, according to Howmuch.net's illustrative data. “Housing prices declined almost everywhere across the country in 2008 and 2009,” explains HowMuch.net’s Raul Amoros. “Our GIF therefore highlights the places that have seen prices surge in recent years as well as the states that are still recovering from the crash.” Median home values are higher now in 41 states and in the District of Columbia than they were in 2007, MarketWatch reports.
But recovery in many areas around the U.S. has been tepid at best, with 22 states climbing by 20 percent or less over the course of those 10 years, though exceptions like North Dakota (+82.3 percent), Colorado (+49.2 percent) and Texas (+42.4 percent) have shown massive gains.
Laggards include the likes of Nevada, which was down 17.1 percent from prerecession levels. Rhode Island, Connecticut and New Jersey were all off double-digits, as well. Even California was in the red since the pre-collapse peak through 2017, but don’t tell that to anyone searching for a home in Silicon Valley.