The U.S. Can’t Seem To Shake Its Housing Market Hangover

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February 05, 2016

Everyone seems to have their own cure for a hangover that they swear by. Blend two raw eggs with a dash of Tabasco sauce and some chocolate milk. Sit upside down on your couch while plugging your nose and singing the national anthem and then chug a glass of orange juice. They’re all weird and none of them work.

But at this point, if anyone has any suggestions for how to cure the housing market’s hangover, people will probably be willing to try them. That’s because, more than a decade after the housing market and median U.S. home prices reached their peaks in 2005, current median home prices are still lagging behind.

It isn’t all bad news, though, as home prices in the 87 largest U.S. markets were up 10 percent in 2015, but that still wasn’t enough to raise the national median back to, or above, the July 2005 peak, as it still sits at 9 percent below those numbers.

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