All across America, people have been seeing house prices creeping up. Everybody has been wondering when the home prices would be back up to where they were before the big crash. Much to everybody's benefit, we are almost there! Home prices are within 15.2% of the peak before the crash.
The LPS price index rose in June to $229,000, up 6.9 percent from last year's levels. In June 2006, the peak was $270,000.
"However, two states — California and New Jersey — are still playing catch up to their peak levels. California home prices are still down 26.3 percent and New Jersey is down 21.2 percent from its peak, according to LPS’ index.
Meanwhile, Massachusetts is only 10 percent from its peak housing price levels, and Pennsylvania and Tennessee are about 5 percent from their pre-crash highs, LPS says.
Texas and Colorado are two states that surpassed their pre-crash peaks." Taken from Realtor Mag.
All states showed some appreciation in May and June.
Buyers and Sellers are still buying and selling everywhere around. There are still bidding wars going on for houses.
Let's all just keep hoping the bubble will keep on filling up and won't pop any time soon.