Would you believe that markets now exist in the U.S. where home prices have increased to a level that is now higher than their peak bubble highs? More surprisingly is the number of markets that find themselves at or near their bubble highs.
According to a report release today by Zillow 527 cities that experienced home value declines of 10% or more are now at, or close to, their peak prices.
From the report…
Declines in home values experienced during the recession have already been, or are close to being, erased in almost 20 percent of metro housing markets nationwide as values continue to rise.
See Zillow’s Home Values in More Than 1,000 U.S. Cities Expected to Be More Expensive than Ever Within the Next Year for the full release.