There is no doubt that the housing market has recovered from the meltdown that occurred just a few short years ago. However, in some states home values still have not returned to the prices we saw in 2006 and 2007. Here is a breakdown showing where current prices are in each state as compared to peak prices.
Knowing that Connecticut housing values saw a 30% reduction from the peak in 2006, Connecticut is clearly on the mend but well behind many States in the recovery process. Ideally we believe the most optimal is a slow but steady growth of value to avoid huge value spikes in the market.
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