Housing<\/a> prices have returned to the \u201cboom levels\u201d of a decade ago, but this time around, the fast appreciation is being fueled by strong supply-and-demand dynamics rather than predatory lending practices, investor speculation, and too much construction, according to new realtor<\/a>.com\u00ae data released Monday.<\/p>\n \u201cAs we compare today\u2019s market dynamics to those of a decade ago, it\u2019s important to remember rising prices didn\u2019t cause the housing crash,\u201d says realtor.com\u00ae Chief Economist Danielle Hale. \u201cIt was rising prices stoked by subprime and low-documentation mortgages, as well as people looking for short-term gains\u2014versus today\u2019s truer market vitality\u2014that created the environment for the crash.\u201d<\/p>\n The national median price for a home in 2016 was $236,000\u20142 percent higher than in pre-recession 2006\u2014according to realtor.com\u00ae. Out of the country\u2019s 50 largest housing markets, 31 have returned to their levels during the last housing bubble. Realtor.com\u00ae researchers finger Austin, Texas, as the city that has posted the largest increases in home prices\u201463 percent\u2014over the past 10 years. Denver and Dallas have also seen some of the biggest gains, at 54 percent and 52 percent, respectively. On the other hand, three markets remained more than 20 percent below their 2006 highs: Las Vegas (25 percent below); Tucson, Ariz. (22 percent); and Riverside, Calif. (22 percent).<\/p>\n Source: realtor.com\u00ae<\/em><\/p>\n<\/div>\n<\/div>\n Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_nov\/realtor.com_economic%20factor%20chart.png\")
<\/p>\n![\"\"](\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_nov\/realtor.com_appreciation%20chart.png\")
<\/p>\n