Recapturing Bubble Peak
After nearly two years of oversize gains,are finally starting to slow toward a more sustainable pace. Many states are still experiencing home prices that are below their peaks made during the housing bubble, but 10 states have already surpassed their previous peaks.
increased 8.8% in May, marking the 27th consecutive month of year-over-year gains, according to the latest reading from CoreLogic’s Home Price Index. In fact, 94 of the top 100 showed year-over-year increases in May, lead by Riverside-San Bernardino-Ontario and Los Angeles-Long Beach-Glendale in California. In comparison, prices surged 11.8% on an annual basis in February.
Every state in the nation has posted price gains over the past 12 months. California and Hawaii have logged the biggest gains, at 13.1% and 13.2%, respectively. However, they are still below their peaks made during the housing bubble. Below are 10 states where home prices have recaptured their bubble peaks.
- New York - 12 month change -11%
- Texas - 12 month change -8.9%
- Colorado - 12 month change - 8.6%
- North Dakota - 12 month change - 7.5%
- South Dakota - 12 month change - 6.4%
- Iowa- 12 month change - 3.7%
- Nebraska - 12 month change - 3.5%
- Oklahoma - 12 month change -3.5%
- Louisiana - 12 month change -3.3%
- Alaska - 12 month change -3.2%
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Lang Premier Properties are Birmingham Realtors specializing in Oakland County Real Estate. Stephanie is an agent with Max Broock in Birmingham, Michigan. See what past clients have to say about Stephanie Lang. Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home. We always recommend working with an experienced luxury real estate agent when buying a new luxury estate.