After a long and painful downturn in the housing market, home prices in many—but not all—regions of the U.S. are showing signs of recovery. According to Zillow, a real estate listing website, home values rose 5.1% across the U.S. between February 2012 and February 2013. Many local housing markets are performing considerably better than the country as a whole. Home values rose more than 13% in 10 of the 30 largest housing markets for which Zillow has data, and rose more than 20% in five of them. Most of the 10 housing markets on the list were disproportionately hurt by the housing crisis. However, many of the areas with the most growth in the past year have remained desirable places to live. This has helped these areas recover at a faster clip compared with the rest of the country. Residents have taken advantage of the record-low mortgage rates and relatively low prices, despite the fact that average home values in places like San Jose and San Francisco are higher than most of the country. From 24/7 Wall St.’s review of the Zillow data, take a look at the 10 hottest housing markets 2013: Click here to see the top 10
Source: Wall Street Journal-MarketWatch
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