Housing Markets That Have Shattered Previous Price Peaks, but in a handful
of markets, some homeowners likely won’t notice much. That’s because homeowners who have owned their home since before the recession have seen their home prices jump by 50 percent—even up to 80 percent.
Median home prices nationwide in the third quarter were 11 percent higher than the pre-recession peak of $230,000 in the third quarter of 2005, and 77 percent higher than the post recession median of $145,000 in the first quarter of 2012.
Median home prices are above pre-recession levels in 69 percent—or 103--of the 150 metro areas tracked, according to a new report from ATTOM Data Solutions.
Average homeownership tenure increases to new all-time high of 8.23 years
U.S. homeowners who sold in Q3 2018 had owned their homes an average of 8.23 years, up from an average
homeownership tenure of 7.97 years in Q2 2018 and up from 7.98 years in Q3 2017 to a new record high going back as far as homeownership tenure data is available, Q1 2000.
Among 108 metropolitan statistical areas analyzed for homeownership tenure, those with the shortest average homeownership tenure were Oklahoma City, Oklahoma (6.31 years), Denver, Colorado (7.17 years); Colorado Springs, Colorado (7.18 years); Austin, Texas (7.24 years); and Provo-Orem, Utah (7.24 years).
U.S. homeowners who sold in Q3 2018 had owned their homes an average of 8.23 years, up from an average
homeownership tenure of 7.97 years in Q2 2018 and up from 7.98 years in Q3 2017 to a new record high going back as far as homeownership tenure data is available, Q1 2000.Among 108 metropolitan statistical areas analyzed for homeownership tenure, those with the shortest average homeownership tenure were Oklahoma City, Oklahoma (6.31 years), Denver, Colorado (7.17 years); Colorado Springs, Colorado (7.18 years); Austin, Texas (7.24 years); and Provo-Orem, Utah (7.24 years).
Median home prices nationwide in the third quarter were 11 percent higher than the pre-recession peak of $230,000 in the third quarter of 2005, and 77 percent higher than the post recession median of $145,000 in the first quarter of 2012.
In the third quarter of 2018, the median home price was $256,000.
Home prices in Dallas-Fort Worth, Texas, have surged the most in the country from their pre-recession peaks, climbing 86 percent higher.
Houston, Texas, and Kennewick-Richland, Wash., also have seen median home prices surge 80 percent higher than their pre-recession peaks.
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