How Much Has Your Home Value Changed Since 2004

Category: Retirement Real Estate

May 11, 2016 — Is your real estate experience something you are pleased with, or a subject best left untouched? A new interactive tool published in the Washington Post will confirm that for you in just a few seconds. Enter your zip code or town, and voila!, it will show you how much the value of your home has changed since 2004.

The period is important because 2004 was just before the real estate market tanked in 2007. The market has generally recovered since then. Over the entire 11 year period (pre and post bubble) the typical single family home appreciated about 14% from 2004 to 2015. But the market recovery has been very uneven. Homes in expensive neighborhoods have gone up over 20%, but those in many other neighborhoods have stagnated. Obviously it is a changing world – homes in oil patch jumped in value, but are probably declining now in these days of cheap oil.

Some very surprising winners and losers
The Post used data from Black Knight Financial Services. The results are more surprising than not, particularly when you look at the maps that show appreciation by region. Oddly enough, many of the areas of the country that did the best in the real estate bubble have experienced lower than average growth over the entire period. Central Florida above Miami, the New England coast, the area around the Great Lakes, and the Central California Coast are all lagging other parts of the country. But the Pacific Northwest, much of Texas, and parts of the Midwest have done much better.

Give it a try
It is pretty interesting. Go to Washington Post and just plug in your zip code. The article has a lot of other great info about specific markets too.

Comments?
Do you wish you sold earlier, and hadn’t bought at all? Are you thinking about buying now, or delaying? Please share your real estate worries and success in the Comments section below.

Posted by Admin on May 10th, 2016

15 Comments »

  1. Down 10%. Remember the Born Loser comic strip???

    by ella — May 11, 2016

  2. LOL!!! I have you beat down 16%! I think a lot of our generation is in the “Born Loser” club!

    by Nikki — May 11, 2016

  3. For those who might be hanging on to their primary homes, forestalling a retirement move until they are “whole” again, please keep in mind the difference in the cost of living between many towns in the North (and California) and most towns in the South. Depending on how much you spend on an annual basis, you will save thousands annually by moving from a high COL area to a low one. And if past is prologue, your primary home, even if it appreciates in price over the coming years (not a sure thing), will not appreciate as fast as some of the homes you would be happy to live in elsewhere. In other words, you will lose buying power even if your current home appreciates. I have done cost of living comparisons for my clients, and in many cases, they can save 30% to 50% annually by moving (most of that is in the cost of real estate and property taxes, but other items as well).

    by Larry — May 12, 2016

  4. Westbrook Maine up 22% from 2004. Still this affordable alternative to Portland lags way behind the rest of the metro area. That was nice when I bought the house but as a future seller, different story.

    by Merrill H — May 12, 2016

  5. Up 30% in sandiego

    by Mary Jane — May 12, 2016

  6. In a Dallas suburb, after 25 years of virtually no appreciation, close to 50% since 2004.

    by Joe G — May 12, 2016

  7. Not sure what sources Mary Jane and Joe G are using for price increases in San Diego and Dallas, respectively. According to the respected Case-Shiller Index, Dallas prices between 2004 and 2014 increased 20%, and San Diego prices dropped 7%. Here is the link to the chart and accompanying article: http://www.nytimes.com/interactive/2014/01/23/business/case-shiller-slider.html?_r=0

    by Larry — May 13, 2016

  8. Larry,
    We decided to rent before buying again, waiting on the Real Estate prices to improve on our current home. Do you think if would be better to sale now, or wait until after the Presidential election? Years ago I bought my home for a very reasonable price before that an election. Now I would have to sale for 4K less than my original purchase price. I would be happy with my original purchase price. What’s your thoughts?

    by DeyErmand — May 13, 2016

  9. LARRY, IN OCEANSIDE Ca where I have a condo in a 55+ community the value has increased $150000 from 1996 to now.

    by Mary Jane — May 13, 2016

  10. My home in N. Phoenix has increased over 100k since 2010. My daughter lives in Palm Desert, Calif., and all the homes around her have increased considerably!

    by loralee — May 14, 2016

  11. Larry,
    I think Mary Jane may be using the same Oceanside, CA real estate source as I am – We live here! Our 1080 square foot attached home has increased in value 97K since its purchase in December 2010. The larger home we sold in 2010 is now worth 100K more. I’m originally from PA but have lived here 34 years. Sadly. I’ve noticed that info from the East Coast greatly exaggerates the death and distruction of CA. It’s really a HAPPY place to live !

    by Sandy SW — May 14, 2016

  12. Nikki, I guess we live in the wrong place! Poor us!

    by ella — May 15, 2016

  13. Thankyou Sandy for backing up my information on the state of southern CA.

    by Mary Jane — May 15, 2016

  14. Any time, neighbor. I read and respect the New York Times and Washington Post, but I have also bought and sold 5 homes/property in Southern CA – never at a loss. Yes, we had a downturn in 2007, and it will happen again; but to be truthful, prices were way over flated at that time.

    by Sandy SW — May 15, 2016

  15. Also market trends for the next 5 to 10 yrs in Sandiego say that values of homes will be increasing every year between 4 to 8%.

    by Mary Jane — May 16, 2016

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