While home prices in most spots have recovered, some places have values that are less than they were 12 years ago.
With the U.S housing bubble far in the rear-view mirror, home prices in most places have passed their pre-recession peak. In other spots, though, it's a different story.
"Some markets that experienced a huge run-up and then a big downturn are still waiting for a recovery," said Lawrence Yun, chief economist for the National Association of Realtors."For some people, the decline from the time they purchased was so severe that it's taking a long time to recover.
Prices have pushed far higher than their previous peaks in some metro areas. For example, in Midland, Texas, the current median of $261,100 is 75% above its May 2008 peak price of $149,300.
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