Prices for most U.S. homes remain below the peaks that were seen before the great recession, according to Trulia stats cited in a USA Today story about the nation’s lack of a real estate rebound since the Great Recession.
But it's a different story in Houston -- where neither the economy nor home prices took as hard a hit during a dip that went deepest circa 2012.
In fact, the greater Houston housing market continues to outperform the nation.
Since 2010, prices have risen “more than 43 percent,” says Dr. Jim Gaines, chief economist at the Real Estate Center at Texas A&M.
Gaines says prices are expected to rise another 6 percent to 6.5 percent this year as well.
He tells NewsRadio 740 KTRH that it’s not just Harris County seeing gains, but also neighborhoods to the north and the Fort Bend County communities that keep growing to the west.
Gaines says the strongest price bracket is homes in the $250,000 to $500,000 range. Sales in this category continue to drive up the area’s median sale price, he says.
Nationwide, meanwhile, only about 1 in 3 homes have climbed back to the price peaks enjoyed before the Great Recession, USA Today reports.