Skip to main content

U.S. Housing Market Recovers $9T Lost in 2007 Crash

Phil Hall
Jan 25, 2018
Today’s average homebuyer earns more than 62.7 percent of all households, up from 59.8 percent in 2012, according to new data from Zillow

The U.S. housing market gained back all $9 trillion in value it lost when the market collapsed in the past decade, according to new data from Zillow. However, the recovery has been unevenly spread across the country.
 
Zillow noted that nationwide home values hit their lowest point in December 2012 while individual markets bottomed out between July 2011 and December 2012. But the financial comeback has been lopsided, with some markets roaring into new health (San Jose’s homes have gained $615,100 in value since the crisis, more than three times what was lost) and others are still somewhat anemic (Indianapolis only gained $19,400 in value during this period). And not every major market suffered greatly in the recession—Denver, for example, only saw a nine percent decline in home values during the housing crisis, less than half of what the typical American home lost in value.
 
"A decade after the financial crisis, the scars of the housing bust are still with us," said Zillow Senior Economist Aaron Terrazas. "The gap between the metros with the strongest and weakest housing market recoveries is as wide as it has ever been. The California Bay Area's housing recovery stands out when compared to other markets that saw similar home value appreciation because it has more than regained all of its lost value. Strong, high-paying job markets and persistently limited inventory sent prices skyrocketing, leading to the Bay Area having the most valuable housing markets in the country."

 
Published
Jan 25, 2018
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021