The 'Uneven' Recovery

Half of the nation's homes have regained or surpassed their pre-Recession value, but by price range and geographic location, the overall recovery has been deemed "uneven." 

While almost all homes in markets like Denver, Nashville, Salt Lake City, and four Texan cities (Dallas, San Antonio, Austin, Houston) have nearly completely recovered, homes in Orlando, Fla., Las Vegas, Baltimore, and more have regained not quite 10 percent of their value, per Zillow's research. As of June 2018, lower-valued homes grew 11.7 percent year-over-year to a median price of $123,200, and the median home grew 8.3 percent YoY to $217,300. Top tier homes grew 5.1 percent to $380,100.

The U.S. Zillow Rent Index in June rose 1.3 percent year-over-year to $1,440 a month, but was unchanged from May. Annual rent growth slowed somewhat from 2.1 percent in May, continuing a months-long trend of stabilization in the national rental market. Among the largest 35 metros, those with the fastest rent growth in June were Riverside, Calif. (5.6 percent), Sacramento, Calif. (5.4 percent), Las Vegas (4.1 percent), Atlanta (3.6 percent) and Orlando, Fla. (3.3 percent).

Read more