A new LendingTree study details how the market has fared since 2008, along with a ranking of the 10 U.S. metros with the strongest post-recession recovery.
In its report, the online lending exchange writes, “When the real estate bubble burst in late 2008, many Americans saw their home values fall drastically, but a lot has changed in the 10 years since — housing prices have rebounded from their lows during the Great Recession. And though prices are now starting to cool, in many cases, home values have even exceeded their 2006 highs,” HousingWire reports.
However, LendingTree makes note that several markets have yet to fully recover, including metros in Hartford, Connecticut; Chicago; Virginia Beach and Baltimore. These metros have all seen their median home prices fall nearly $6,700 within the last 10 years. That being said, on average, median home values have climbed by nearly $50,000 across the 50 largest housing markets across the country since 2009.
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