The U.S. economic recovery has been uneven. While the country recently added back all the jobs it lost since the recession, the housing market indicators have been in an indefinite flux. However, a recent report by RealtyTrac, the property intelligence firm, revealed that the real estate recovery in some areas have been stronger than others.
The report claims that home prices in several counties have soared to record highs, peaking to the rates that were recorded before the market crashed in 2008. The report identified some markets where prices and growth have been steadily climbing and that too in a good way.
Most of these counties "are middle America markets that were largely passed over by the boom and bust and have experienced fairly steady growth over the past seven years," Daren Blomquist, vice president at RealtyTrac, explained to 24/7 Wall Street. He added that these markets were not exposed to lending malpractices and therefore the growth is healthy.
Below are the top five counties that have come back with a bang since the recession (list courtesy- Realtor Mag):
1. Jefferson County, Ky.
Percentage change in home prices as compared to 2007-2008: 63.1%
Average price of a home (as of March 2014): $160,000
2. Delaware County, Pa.
Percentage change in home prices as compared to 2007-2008: 54.9%
Average price of a home (as of March 2014): $295,000
3. Buchanan County, Mo.
Percentage change in home prices as compared to 2007-2008: 41.1%
Average price of a home (as of March 2014): $139,450
4. Marion County, Ind.
Percentage change in home prices as compared to 2007-2008: 39.4%
Average price of a home (as of March 2014): $116,000
5. Henderson County, Texas
Percentage change in home prices as compared to 2007-2008: 30.2%
Average price of a home (as of March 2014): $192,500
Check out the full list of counties here.
Home prices have indeed increased in several areas across the U.S. In May, Prices went up more than 20 percent in seven of the major metro areas of the country with six Californian cities and Las Vegas showing the highest spike in prices.
The International Monetary Fund launched a global property website last week to monitor home prices across the globe. It claimed that global home prices were rising at a fast pace with about 33 out of the 52 surveyed countries showing an increase in prices.
