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Five More Markets Reach Full Recovery

Overall recovery is happening albeit slowly. The following article from DS News highlights 5 areas that have recovered the values lost during the foreclosure debacle. But that still only brings the total number of full recovery areas to 19 … a long way to 50. One large factor in this recovery seems to be the judicial states. They were much slower to get their properties to market (REO properties) so those foreclosures are still affecting the values in those states.

By: Krista Franks Brock

Housing markets across the country continue to show improvement. Five more markets joined the list of fully recovered housing markets across the country, bringing the number to 19 as of the end of May, according to this month’s Homes.com Rebound Report released Wednesday.

Also, 39 markets are at least 50 percent recovered, meaning prices in these markets have regained at least half the value they lost during the recession.

“With five new markets reaching a full recovery over the last month and modest gains in some of the already fully recovered markets, the overall rebound of the U.S. housing market continues to move forward,” said Brock MacLean, EVP of Homes.com.

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About the author

Sherry Fields Sherry Fields has been working in real estate since 2002. Working with the development team for the Hilton Garden Inn gave her strategic information on the commercial real estate market in Missoula. Broadening her scope she moved into the residential market and earned the designation SFR in short sales and foreclosures. Currently affiliated with Prudential Montana Real Estate, she works with both buyers and sellers "building relationships so you can buy & sell with confidence". Sherry Fields has recently earned the CREN designation - Certified Real Estate Negotiator. While price is a large part of negotiation - it is also about timing everything from the closing date to inspections, appraisals, home insurance - and it is about negotiating items that can show up in home inspections to achieve a mutually acceptable outcome.

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