Just one-third of U.S. homes are back to their values before the recession

Tucson cited in study

By Andrea Riquier | MarketWatch

Most American homes are worth less now than they were before the recession, according to a report out Wednesday.

Fresh data from real-estate website Trulia show that just 34.2% of homes have returned to the peak levels registered before the onset of the recession in 2008. What’s more, Trulia estimates it could take until 2025 for a true national recovery in home prices.

“We are absolutely not out of the woods as far as home-value recovery is concerned,” Trulia’s chief economist, Ralph McLaughlin, told MarketWatch. “The housing-market crash was pretty monumental. The scarring of the housing market has not gone away and will be visible for the indefinite future.”

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May 3, 2017

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