FRESNO, CA (KMJ) – The U.S. housing market has yet to fully recover from the housing market crash nearly a decade ago – but some markets have barely recovered at all. Fresno is one of those markets.
According to a new study by Trulia, Fresno ranks third in the nation in least recovered housing markets – just 2.5% of homes in the Central Valley have recovered to pre-recession peak value – ranking only behind Las Vegas and Tucson, Arizona.
Median home values in Fresno are $78,000 below their pre-recession peak. Income, however, has grown about 5% since that time.
Bakersfield isn’t faring much better, ranking seventh on the list, with a 2.9% recovery rate, and an $85,000 difference in price from the pre-recession peak. Income in Bakersfield has shot up 13% since the recession.
