Home values and homeownership still haven’t recovered to the levels they were at during the three years encompassing the recession, according to new Census data.
The median home value in the three post-recession years — 2010 through 2012 — was roughly $17,000 less than it was during the previous three years. The homeownership rate, meanwhile, was down 1.7 percentage points from where it stood in the 2007 through 2009 period.
The fall in median home values was relatively evenly spread throughout the regions of the country, with 28 states posting declines. California’s median home value was hit hardest, dropping $102,600. North Dakota’s rose $18,200, more than any other state. (States where the change was not statistically significant appear blank in the maps below.)
Iowa saw a 0.7 percent decline in homeownership rates, the smallest decline among states where the difference was statistically significant. The District of Columbia saw the largest decline, of 7.3 percent, followed by Nevada where homeownership shrank by 5.7 percent.