Housing Market Completely Recovered in 14 Cities
There are 14 markets across the nation that online property listings site Homes.com considers to be “completely recovered” as of April, according to its latest Rebound Report.
This is up from nine markets in March. Its Local Market Index also claims that 35 markets have seen a rebound in pricing of 50% or more.
“The latest round of report findings supports a growing confidence in the housing market. With home prices posting the strongest gains in seven years, the Rebound Report is another indicator of a positive turn. In one month alone, we have seen five new markets reach recovery,” said Brock MacLean, executive vice president of Homes.com. “Adding to that momentum, all top 100 markets recorded gains for the first time, indicating the recovery continues to build across the country.”
In February, 75 out of 100 markets reported price gains, it said.
Six of the top 10 rebounding markets are in Texas, with four of those−San Antonio, Houston, Austin and Dallas−showing a 200% rebound.
The other cities Homes.com said the housing market is completely recovered are Oklahoma City; McAllen, Texas; Tulsa, Okla.; El Paso, Texas; Omaha, Neb.; Little Rock, Ark.; Pittsburgh; Wichita, Kan.; Baton Rouge, La.; and Denver.
At the other end of the spectrum, Providence, R.I.-New Bedford, Mass., is making the slowest recovery. Going up from there are New Haven, Conn.; Lakeland-Winter Haven, Fla.; Las Vegas; and Orlando.