It found some cities like Newark, New Jersey still well below 2007 levels. The personal finance company WalletHub analyzed the performance of the real estate markets in various American cities post-crisis. According to the index, it took until October 2016 for the national average to recover from the housing crisis, and the index shows only a very small increase since the Recession. The S&P/Case-Shiller National Average Home Price Index also demonstrates Denver’s above-average performance during and after the housing crisis. Chicago is still struggling to get back to pre-Recession values, more than a decade later.
And as we have already seen, property values in Denver are now fully recovered. Denver’s home price index only declined 11% during the same timeframe. The Windy City saw home values plummet by more than 35% during the housing crisis. By Q3 of 2017 home prices across the state were nearly 50% above the prior peak.Īlthough it took more than seven years for the real estate market in Denver to recover, the city’s revival is more impressive than the performance of many other property markets around the country. Property values were back to pre-crisis levels as early as 2013. They stalled in the summer of 2010, only to start upwards once again. A fairly modest decline begins in the spring of 2006 in Denver and continues, at a more rapid pace, until the spring of 2009, at which time prices pick back up again. The S&P/Case-Shiller Home Price Index shows a gradual advancement in Colorado home prices up until the Great Recession of 2007. Home Mortgage Rates in Colorado Colorado Real Estate Trends Strong Performance In The Wake Of The 2008 Housing Crash
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