As home prices reach pre-recession levels, has market truly recovered?

According to a report from Realtor.com analyzing the property market since the Great Recession, the overall housing market has returned to pricing levels last seen in 2006. The U.S. median home sale price last year was $236,000, two percent higher than 2006. But that’s not a comparison meant to spook homeowners and investors fearing a repeat of the housing crash.

Though current prices are similar to pre-recession days, there are many other factors that are different today than they were 11 years ago. For example, inventory is much lower than it was before the recession.

Additionally, lending practices are stricter, with the intention of preventing another recession.

The report reminds readers that the crash was not caused by housing prices but by others factors that are now better controlled.

Read the source article at Curbed