Not all U.S. housing markets have bounced back strongly from the Great Recession, but many have posted double-digit rebounds.
Check out the slideshow below for a rundown of 10-year changes in home values in the nation’s 100 biggest housing markets based on the latest data from the Federal Housing Finance Agency.
FHFA converts each market’s home sales prices to a quarterly index, which is pegged to a 1991 value of 100 points. Any rise in the index corresponds to an overall increase in local prices. Any drop indicates that values are declining.
Business First calculated 10-year changes for the nation’s 100 biggest markets.
Roughly a third of the top 100 markets (37, to be precise) are still underwater, with average house prices that are lower today than before the recession.
Average home values are higher in the other 63 markets, led by Denver, which posted a 10-year gain of 68.7 percent.
Cincinnati ranked No. 46 in the report, with a 10-year gain of 6.5 percent. Here’s how other Ohio cities ranked:
-Columbus: No. 26, up 17.7 percent
-Akron: No. 56, up 2.6 percent
-Cleveland: No. 57, up 2.2 percent
-Dayton: No. 64, down 1.6 percent.
The nine metros with the strongest growth rates for home values are all located in rapidly expanding states in the South and West, including Austin, Texas, No. 2 (up 65.8 percent); Dallas, No. 3 (up 56.2 percent), Houston, No. 4 (up 54.3 percent) and Forth Worth, Texas, No. 5 (up 43.7 percent).