Fresno And San Francisco Exemplify The Housing Market’s Uneven Recovery

While 98 percent of homes in San Francisco have surpassed pre-recession peak values, only 2.5 percent of homes in southern neighbor Fresno have hit their peaks.

Through data from Trulia, National Mortgage News reports that most U.S. homes are worth less than before the crash. Just 34 percent of homes have reached their pre-recession peaks.

Many of the metropolitan areas where home values lag the most are Rust Belt towns with little prospect for an immediate comeback, or Sun Belt cities whose peak home values were a product of the bubble that preceded the collapse.

The findings suggest that a new housing bubble is not being formed because a bulk of the homes across the nation have yet to recover.

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