Back in a big way: U.S. home prices surpass 2006 peaks

screen-shot-2016-12-08-at-6-07-02-pmBy Clare Trapasso | realtor.com
U.S. home prices surpassed their 2006 peak in September, according to a recent report, despite a topsy-turvy presidential race that had housing experts betting that buyers would hold off on closing on the homes of their dreams until after the election.
“A lot of that recovery has come in the last four years” as the economy has strengthened and created more higher-paying jobs, says Taimur Khan, a senior research analyst at Knight Frank, which produced the report.
That’s made more potential buyers feel financially secure enough to become homeowners, boosted the confidence of lenders, and led more homeowners to seek to cash in on their home equity by selling, he says.

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