Home values have—finally—grown for the first time since the Great Recession, reports Cheryl Russell, editorial director for New Strategist Press. According to the American Community Survey and U.S. Census Bureau data, the median value of owned homes in the U.S. hit $181,200 in 2014, a 2.5% increase from the post-Great Recession low of $176,721 in 2013, but 18% below the 2007 median of $221,845 just before the crash.
Demo Memo provides the median home price values since 2007, adjusted for inflation:
The home value increases come at a time of increasingly positive consumer sentiment, a stronger labor market, but also increased interest rates from the Fed. How do you think home values and prices will fare in the upcoming year?