It has been a long recovery for the housing market since it crashed in 2008, especially in hard-hit metro Detroit, but it looks like home prices are inching their way back to pre-recession levels.
According to the Detroit Free Press, "Local housing prices are now back to their January 2008 levels," although they are still 21 percent below their peak values of 2005 and 2006. The median housing price in metro Detroit was $162,900 as of June, over 9 percent higher than it had been a year before.
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Detroit Free Press
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