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10 Years After U.S. Housing Crash, Recovery is Not Even Across Many Markets

September 17, 2018 / Michael Gerrity

Zillow research is reporting this week that a decade after the collapse of the U.S. housing market and the start of the Great Recession, home values have more than recovered in most of the U.S.'s largest markets. The markets with the highest gains above the mid-2000s bubble are primarily in the West and Southwest. San Jose - the nation's most expensive metro - leads the way with a current median home value of $1.29 million, 74 percent higher than the top of the bubble and more than double its post-crash low. Denver follows with its median value of $397,800 representing a 66 percent increase from the bubble's peak, though, unlike other parts of the country, Denver never experienced a rapid run-up of prices during the bubble years. In all, home values in 21 of the nation's largest 35 markets are higher than their pre-recession peaks.