Have home prices in our area fully recovered from the declines suffered during the Great Recession, or is it still struggling to make it back to the peaks they reached before the crisis?
According to a study from HSH.com, Fresno is one of 10 metropolitan areas in the U.S. that still has the furthest to go to achieve full recovery, as prices in the metro were still 32.41 percent below their “boom-era” peak value in the fourth quarter of 2016.
To learn more about home price trends in your area, and to see where other metro areas rank on the list, be sure to see the complete list of areas.
Whether or not a specific home is now above or is still below the value when it was purchased depends on when it was bought. Readers and viewers interested in seeing how market gyrations have affected their home’s value while they’ve owned it should plug their numbers into HSH.com’s “Home Value Estimator” to track gains or losses over that time.
|Areas with largest recovery gaps||Percent needed to regain peak|
|Las Vegas – Henderson – Paradise, NV||40.78%|
|Stockton – Lodi, CA||36.99%|
|Cape Coral-Fort Myers, FL||32.15%|
Methodology: To rank markets, HSH.com analyzed the Federal Housing Finance Agency’s (FHFA) Home Price Index as a basis to determine which housing markets have fully recovered (or more) and which still lag behind the housing recovery. The data series begins in 1991 and runs through the fourth quarter of 2016.