Homes.com recently launched the “Homes.com Rebound Report,” a new housing study with detailed insight on the housing market recovery in the top 100 U.S. Markets.
The report provides a deeper analysis of housing data from the Homes.com Local Market Index by measuring how far each of the top 100 markets has rebounded from its deepest decline in index value. The inaugural report highlights nine of the top 100 measured markets that have completely rebounded to their peak price levels prior to the housing bubble, with some markets increasing as much as 200 percent of the decline amount.
“The ‘Homes.com Rebound Report’ uncovers how the housing recovery process is unfolding across the country. It measures how far each market has recovered from its greatest drop in index value,” says Brock MacLean, executive vice president of Homes.com. “A similar boom-bust scenario played out across virtually every market in the country during the 2000s, and today they are all in some stage of recovery. The report sheds light on how certain regions of the country have recovered, while others are still struggling to find their way back to prosperity.”
In most U.S. markets, the housing boom of the early 2000s was quickly followed by a housing bust that, along with other global factors, led to the Great Recession which began in late 2007. The rebound percentage uses data back to 2000 but focuses on the period from 2005 forward, identifying peaks and troughs to isolate the impacts of this decline. The “Homes.com Rebound Report” highlights the top 10 and bottom 10 markets for March 2013 based on their percentage of rebound.