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It’s now been a full two years since residential real estate prices stopped slipping backward and began a recovery. The most recent Case-Shiller index of 20 cities shows home prices rising at the fastest rate in nine years. However, by and far most remain at levels below what they were before the recession. The fact is that nationally, home prices average 13.5% below their high values before the real estate market bust.
It will be some time before these house values fully recover. While 2013 saw average price increases of 10%, prices are only expected to rise an average of 3% to 5% during 2014. Another fact is that not all regions of the country are playing by the same rules. Texas in particular has …read more