The Real Deal Miami

S. Florida ranks poorly in site’s recovery report

According to list, region has gained 14 percent of pre-bust peak value
July 25, 2013 10:00AM

Nicole Selvaggi

Nicole Selvaggi

South Florida ranks near last in’s list of real estate recoveries across the country, the Miami Herald reported.

Comparing metropolitan areas’ rebound in home prices to the peaks of past markets, Texas is king with six of the top 10 spots. San Antonio ranks at the top of the list, besting its pre-crash peak by about 120 percent.

According to the report, 19 of the top U.S. markets showed more than a 100 percent rebound since the Great Recession – up from the 14 markets in last month’s report. “That is now almost 20 percent of the top U.S. markets that are fully recovered!” the report’s author, marketing analyst Nicole Selvaggi, wrote.

South Florida finished 89th out of 100. According to the site, homes in the region have only recovered 14 percent of their previous peak value since touching bottom. [Miami Herald]Emily Schmall