In the News – U.S. Housing Market Is Officially Back, But Let’s Be Careful

In the News – U.S. Housing Market Is Officially Back, But Let’s Be Careful

Home prices have — on average, across the nation — climbed back to the peak in 2006 where they sat before the bubble burst and everything came crashing down. We wanted to take a moment to celebrate the news that, like in Denver where housing prices have been back to pre-recession levels for a time, some of the more hard-hit areas of the country are bouncing back, too. It’s a moment of cautious optimism and tempered realism. The S&P CoreLogic Case-Shiller National Home Price Index at the end of November announced that the average home price for September was 0.1 percent above the record high in 2006. Don’t break out the champagne just yet, though. If you account for the inflation that has occurred over the past decade, home prices are still 16 percent below that high.

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