The Real Deal New York

Home prices on course to hit pre-crisis peak — in 2021

February 03, 2014 08:26AM

Home prices are growing at a steady clip, but won’t return to pre-crisis highs until at least 2021, according to Clear Capital’s latest Home Data Index.

National home prices have normalized post-bubble, Clear Capital data released Monday show, with numbers within two percent of long-run average levels. Home price growth is also in line – between three percent and five percent – of historical rates.

Still, at this rate, home prices won’t hit 2006 levels for another seven years, according to the Clear Capital data seen by Housing Wire.

“For new deals and investors without legacy assets, the new housing environment should be framed in terms of more typical, moderate rates of growth with tempered optimism for the ongoing housing recovery,” Dr. Alex Villacorta, vice president of research and analytics at Clear Capital, told Housing Wire. [Housing Wire]Hiten Samtani