Since the housing market crash following the financial crisis beginning in 2007 and 2008, many markets have bounced back to the point where several are even being identified as new bubbles.
Yet others are still struggling. And in the market for reverse mortgages, where much of a qualifying household’s potential proceeds depend upon home values, the relative value of those homes becomes paramount.
In an analysis published this week, WalletHub identified cities based on how much they have recovered since the recession. It based its analysis on a series of economic indicators such as the inflow of college-educated workers to home-price appreciation directly.
Among the most recession-recovered cities, the analysis found Lubbock, Texas; Denver, Colorado; Corpus Christi, Texas; Anchorage, Alaska; and Houston, Texas were the top five. Among those least recovered since the recession are San Bernardino, California; Tucson, Arizona; North Las Vegas, Nevada; Henderson, Nevada; and Glendale, Arizona.
In terms of home price appreciation, New Orleans marked the city with the greatest appreciation at 84%, while Detroit represented the largest depreciation, at 61%.
See where your market falls on the list of most recession-recovered and least-recession recovered cities across the U.S.
Written by Elizabeth Ecker