Not All Communities Have Fully Recovered From the Housing Crisis

February 13, 2018
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Researchers have found that the U.S. housing market regained the value lost during the recession, roughly $9 trillion, yet not all housing markets in the country have had a full recovery.

The housing markets that have gained the least value since the recession are mostly in Midwest states -- Cincinnati, Cleveland, Indianapolis, St. Louis, and Pittsburgh, per Zillow's data. San Jose, California, however, gained the most value since the housing crisis. The city lost 25.3 percent of its value during the crisis, but has since gained back 110.5 percent, eclipsing its peak levels during the housing bubble by 57.2 percent, per The Washington Post

In fact, even markets that are looked at as healthy, such as the Washington, D.C., area, have still not entirely achieved a complete comeback. The typical D.C.-area home fell 27.5 percent in value or $117,800, according to Zillow. Since hitting bottom in January/ February 2012, home values have gained 24.4 percent or $75,700. Home values in the D.C. area are currently 9.8 percent below the highest level they reached during the housing bubble.

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