- While home prices have grown steadily this spring, they remain low relative to the market’s peak in 2006.
- Through March, the Case-Shiller price index for the 20 major metro areas was up 10.9% as compared to the same period in 2012 and each of the 20 markets in the index was up over this period.
- However, all but one of the 20 markets were below their levels from March of 2006 and all but three were still down by doube-digit figures.
- Dallas was the sole market that was stronger over this 6-year period by 0.6%, but the Texas markets largely avoided the loose lending and heady price growth from 2003 through 2006.
- More than half of the markets in the index, 14, were down by 20% or more compared to March of 2006 and Las Vegas was down in excess of 53%.
- Markets in California and the sand states of Florida, Nevada and Arizona were down by the largest amounts despite frenzied investor purchases.
