Written by The Business Journal Staff
The Home Price Index finds Fresno No. 5 on a list of the 10 U.S. metro areas that have recovered the least, with home prices needing an additional 34.43-percent boost to reach their pre-recession peak average value of $273,350.
Fresno’s average bottom value was $137,880, and its current home value is $203,340.
As the hsh.com study points out, some of the least recovered metros have still seen significant price recoveries since hitting their bottom values.
“However, home prices in areas like Las Vegas may have been inflated to such a degree that even when they return to a “normal” value they may still be well below their previous price peak,” according to a new release.
Las Vegas was No. 2 on the list for the least recovered areas, with Bakersfield in the No. 1 spot, needing a 43.93 jump to regain peak value.
On the flip side, the Denver area was No. 1 on the most recovered list, with values at 58.18 percent above its peak, followed by Austin, Texas at 53.52 percent and Dallas, Texas with 53.52 percent.