A new Zillow report finds that more than half of homes in the U.S. are currently more valuable than they were before the Great Recession.
The current national median home value is 8.4 percent higher than its pre-recession peak, and in 60 percent of the 35 biggest U.S. markets, the median home value is at an all-time high, MarketWatch reports. Tighter supply, down 4.8 percent annually, is cited as the major driver behind today's home value appreciation. For renters, the median national rent grew 1.3 percent YoY, which translated to the second consecutive month of rent prices appreciating less than the rate of inflation.
Some markets have rebounded faster than others post-recession. In seven of the country’s largest housing markets — Dallas-Ft. Worth, Seattle, Denver, San Antonio, San Jose, Austin and Portland, Ore. — more than 95 percent of homes are worth more than the pre-housing boom peak. Denver has experienced a particularly notable rebound: The median value is now $397,700, or 65.5 percent higher than its previous peak in 2006, and more than 99 percent of homes are more valuable than they were in the bubble years.
