Clean N Dry Today

Clean N Dry Today

  • Home
  • About Us
  • Residential Cleaning
  • Commercial Cleaning
  • Blog
  • Contact Us

Boom Or Bubble? – Home Prices Hit Record Highs Across America

September 10, 2019 by Clean N Dry Today

Boom Or Bubble? - Home Prices Hit Record Highs Across AmericaThe rapidly rising home prices currently found in many parts of the United States make it seem like the Great Recession of 2008 never happened. It took approximately eight years for home prices to recover the values that were equivalent to those they had before the recession.

After reaching this point of recovery, since around 2016, real estate prices have been going up very quickly in many cities.

The Best Recovered Housing Markets

Here are the fully-recovered housing markets analyzed by ATTOM data service for the second quarter of 2019 that have exceeded the peak valuations from before the recession.

This list of winners shows the percentage that they are now above their pre-2008 peaks:

  • Greeley, Colorado (87% up)
  • Shreveport, Louisiana (81% up)
  • Denver, Colorado (80% up)
  • Austin, Texas (77% up)
  • Fort Collins, Colorado (76% up)
  • Dallas-Fort Worth, Texas (72% up)
  • Nashville, Tennessee (71% up)
  • San Antonio, Texas (58% up)
  • Houston, Texas (54% up)
  • San Jose, California (54% up)

It took quite a while for homes to have this much appreciation in value, which in most cases meant that the homes, first, had to increase significantly to overcome the lowered values from pre-recession peaks.

Homeowners Waiting Longer To Sell

Homeowners, who were wise and able, waited for this to occur. This accounts for the median of eight years that homeowners waited before selling now. Before the Great Recession, the median holding period for selling a home was only four years after purchase.

Homeowners who were able to hang on to their homes after the Great Recession hit, and then ride it out until now, are, in general, being rewarded for waiting to sell.

The Hottest Markets For American Cities

Most American cities are hot real estate markets. The appreciation rate for annual increases is up 89% of all the metro market areas.

Cities showing the greatest annual appreciation rates are:

  • Atlantic City, New Jersey (16% increase)
  • Boise City, Idaho (14% increase)
  • Chattanooga, Tennessee (13% increase)
  • Mobile, Alabama (11% increase)
  • Madison, Wisconsin (11% increase)
  • Milwaukee, Wisconsin (9% increase)
  • Boston, Massachusetts (9% increase)
  • Salt Lake City, Utah (9 % increase)
  • Columbus, Ohio (8 % increase)
  • Birmingham, Alabama (6% increase)

Summary

Whether this a continuing boom or an early indication of another real estate bubble that might eventually burst is anyone’s guess. It is a decent time to sell if selling a home is in the plans. It is a more challenging time for home buyers. However, the one thing the Great Recession taught us all is that housing prices do not always go up.

If you are in the market for a new home or interested in listing your current property, please consult with your trusted real estate professional.

Filed Under: Real Estate Tagged With: Market Conditions, Market Trends, Real Estate

Connect with Us!

Service Areas
Discounts
5 Reasons
Emergency Service
CC Accepted

100% Guarantee!

Clean N Dry Today Guarantee
If you for any reason you’re not completely thrilled by our cleaning or our service for any reason just call us within 14 days of the original cleaning date and will rush back out free of charge and re-clean any and all areas of concern no questions asked!
Our mission is to provide you with the Deepest, Driest, and Most Effective Cleaning Ever!

Want us to Contact you?

  • This field is for validation purposes and should be left unchanged.

100% Guarantee

If you for any reason you’re not completely thrilled by our cleaning or our service for any reason just call us within 14 days of the original cleaning date and will rush back out free of charge and re-clean any and all areas of concern no questions asked! Our mission is to provide you with the Deepest, Driest, and Most Effective Cleaning Ever!

Recent Articles

  • Avoid These Home Projects If You Are Selling Your House Soon
  • Staging Tips: How to Make Your Bedrooms One of Your Home’s Best Selling Features
  • You Are A Serious Buyer: How To Show It

Connect with Us

Copyright © 2022 · Powered by MySMARTblog