The two Metropolitan Statistical Areas that encompass Dallas-Fort Worth ranked in a recent list of top 10 metros that have recovered the most from the Great Recession, HSH.com said.
But that recovery isn’t all that usual — 27 major cities still haven’t seen home prices recover peak values they were posting pre-recession. But that number is dropping, HSH said, and so far, 73 U.S. home markets seen complete recovery.
Dallas-Plano-Irving found itself in fourth place, with home prices 68.51 percent above peak). Fort Worth-Arlington was fifth, at 59.85 percent above peak.
Three more Texas metros found themselves on the recession recovery list as well: Austin-Round Rock at No. 2 (72.55 percent), Houston-The Woodlands- Sugarland at No. 6 (57.05 percent), and San Antonio-New Braunfels at No. 8 (44.47 percent).
“Although the Denver-Aurora-Lakewood, CO metro still holds the top slot, Texas markets dominate the most recovered group, holding five of the 10 slots,” the company said.
Additionally, El Paso made the company’s “nearly recovered” list, signaling that its current values are only one or two percent below previous peaks, and that the city is likely close to making that “fully recovered” list, possibly even by the next quarter.
The rankings are determined by using the Federal Housing Finance Agency’s Home Price Index to determine which markets have recovered fully and which ones are still lagging.