Here are 10 States Where Climbing Home Prices Have Passed Their Pre-Crisis Peaks

After about two years of steady gains, home prices are finally slowing to a more historical pace, seven years after the housing market collapse.


Most states are still seeing home prices below their pre-crisis peaks, but 10 states have already surpassed their previous highs.
And that’s quite an achievement considering the depth of the housing/foreclosures crisis.
Home prices increased 8.8 percent in May, marking the 27th consecutive month of year-over-year gains, according to the lates from CoreLogic’s Home Price Index. Impressively, 94 of the top 100 metro areas showed year-over-year increases in May, lead by Riverside-San Bernardino-Ontario and Los Angeles-Long Beach-Glendale in California.
While home price gains are good news for homeowners, those in the market are feeling the sting of fleeting affordability, especially first-time homebuyers.
“While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns,” said Anand Nallathambi, president and chief executive officer of CoreLogic. “As we move ahead, a moderation in home price increases over the next 12 months should help cool things down a bit and keep the housing recovery going.
Here are the 10 states where home prices have recaptured their bubble peaks.
1. New York
12-month change: 11 percent
2. Texas
12-month change: 8.9 percent
3. Colorado
12-month change: 8.6 percent
4. North Dakota
12-month change: 7.5 percent
5. South Dakota
12-month change: 6.4 percent
6. Iowa
12-month change: 3.7 percent
7. Nebraska
12-month change: 3.5 percent
8. Oklahoma
12-month change: 3.5 percent
9. Louisiana
12-month change: 3.3 percent
10. Alaska
12-month change: 3.2 percent

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