U.S. homeowners had lost $16 trillion in net worth between 2006, when home prices reached their peak, and 2011, when prices bottomed out. Home prices fell by a third in that period, and by the end of the third quarter of last year they had climbed out of that hole. The average U.S. home price was 1% higher than it had been at the 2006 peak. The data were included in a new report, “Evaluating the Housing Market Since the Great Recession,” released Thursday by CoreLogic.
Source: 24/7 Wall St.