Professional Builder
For the most part, U.S. home prices have recovered their pre-recession peaks. However, some metros’ prices have yet to recover 12 years later.
In May 2007, national home values peaked and subsequently began to fall, bottoming out in early 2012, and then appreciating once more. Lawrence Yun, chief economist for the National Association of Realtors tells CNBC, “Some markets that experienced a huge run-up and then a big downturn are still waiting for a recovery,” adding, “For some people, the decline from the time they purchased was so severe that it’s taking a long time to recover.”
