By Dees Stribling | MHN Online
The Census Bureau reported late last week that the recession hit home values in more populous U.S. counties harder than smaller counties. The findings came from the bureau’s latest brief, “Home Value and Homeownership Rates: Recession and Post-Recession Comparisons From 2007-2009 to 2010-2012,” which uses the American Community Survey (ACS)’s three-year estimates to focus on home values and homeownership rates for smaller areas.
The small-area statistics from the ACS show that in 66.9 percent of the 1,038 smaller counties (with populations between 20,000 and 65,000), median home values in the post-recession period of 2010-2012 weren’t statistically different from the recessionary period of 2007-2009. Also, median home values in 37 of the 50 smallest counties of this size weren’t statistically different from the recession period.
