Cities where home prices are hitting new highs

While home values nationwide are still down 13.5% from their pre-housing bust peaks, prices in these major housing markets have recovered -- and then some, according to Zillow.

Houston

housing high houston 2
  • Home value now*: $156,100
  • Housing boom peak: $142,100

Another city dominated by the oil and energy industry, Houston's housing market has moved in tandem with that of Dallas.

Prices stayed reasonable, even as they bubbled -- and burst -- elsewhere in the country, according to Humphries. Few regulatory barriers and lots of inexpensive land in the area helped to keep building costs low and housing inventory plentiful, he said.

Related: How far will your salary go in another city?

But rapid population growth -- the number of residents grew 6.6% between 2010 and 2013 -- has put pressure on home prices.

Values have already surpassed their 2007 peak of $142,000 -- and Zillow expects them to keep climbing at a steady rate.

Source: Zillow
Zillow home values are the median estimated home value for a given geographic area in March 2014, and includes the value of all single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. It is expressed in dollars, and seasonally adjusted.
- Last updated April 22 2014 07:03 PM ET
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