This is the burning question on every one who is buying in today's real estate market. Whether venturing out as a first time homebuyer or adding another property to the seasoned investor's portfolio, predicting real estate market price direction is not unlike predicting stock price fluctuations. While there are a myriad of economic indicators and statistics real estate professional follow each day, it is still at best an educated guess as to the exact timing of corrections and bull markets.
This housing market has many people talking about home values; where they are and where they are headed. It’s also interesting to look back and see how home prices compare to values prior to the housing crisis.
Every quarter, Freddie Mac releases their House Price Index. The index usually provides monthly home values for:
- the nation as a whole
- each of the 50 states
- 367 metropolitan statistical areas
This quarter, the report also included a look at today’s home values as compared to Pre-2008 values. Below is a graphic that breaks down the numbers on a state-by-state basis for today's percentage increase or decrease as compared to the Pre-2008 Real Estate Market peak.