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Home Prices Reach Peaks in 4 States

Posted on April 1, 2014

Despite harsh weather, home prices in the U.S. held up in February, with four states setting record highs, according to CoreLogic data released Tuesday.

Home prices in Colorado, Nebraska, North Dakota and Texas hit peaks, and another 18 states were within 10% of their peak prices (see the above chart from CoreLogic).

Factors driving home prices include low inventory and strong employment growth. The Dallas area, for example, recently posted the third largest annual gain in jobs among 32 U.S. metropolitan divisions. Over in North Dakota, county populations are booming, and the state had the No. 1 rate of personal income growth last year.

Of note, the four states that posted record high prices in February also all missed the extreme price volatility seen during the housing bubble and its aftermath.

“While they had some declines, it was not the same magnitude of the hard hit states. So combined with relatively strong employment growth, it’s not a surprise that they are reaching record highs, which is the norm in healthy housing and economic markets,” said Sam Khater, CoreLogic’s deputy chief economist.

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3 thoughts on “Home Prices Reach Peaks in 4 States

  1. GenEarly says:

    Only four States are back to where they were BEFORE the housing Bubble burst, and these four states didn't have the wild hyperinflation of the bubble, and have the stronger employment numbers now. WOW! Green shoots for sure! (sarc)
    How about that stock market too! Inflated Dollars, Fed Reserve Pumping, Too big to Fail Banksters investing rather than loaning, plus who wants to borrow anyhow? for what business?
    Obama's 5th Summer of Recovery coming up!!!! Can't wait! (sarc)

  2. You are aware, aren't you, that your state decides what your house is worth? It doesn't matter if it doesn't sell for that, it's what it's assessed at. My neighbor's house sold for nearly 20K less than its assessed value and they aren't about to lower the assessment even though I'm told it's based on what they're selling for. The fox is watching the hen house.

  3. And the next round of foreclosures is when ?