Markets Hit Hardest By Downturn Now Bouncing Back

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August 22, 2016

Las Vegas, Miami, and parts of Arizona and California were once casualties of the real estate bust. Now, data from the National Association of Realtors indicates that these locations are all seeing gains that outpace the national average, according to the Washington Post.

In Las Vegas, sales of high-end homes priced at more than $1 million have doubled over the last year. Phoenix home prices rose 12 percent year over year in June. Miami has several waterfront luxury developments in the works.

The resurgence is due to tighter lending restrictions, higher down-payment requirements, and the reduction of overbuilding.

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