---
title: U.S. Home Prices Have Fully Recovered From The Great Recession
description: Home prices rose to an all-time high in September, according to Case-Shiller, topping their previous peak before the Great Recession.
authors:
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published: '2016-11-29T17:20:08.000Z'
modified: '2024-03-18T15:05:20.000Z'
section: Housing
tags:
  - Case-Shiller
  - home prices
  - onetime
  - Recession
word_count: 199
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![Existing Home Sales And Prices Hit Record High](https://img.money.com/2016/11/gettyimages-51120113.jpg)
*Home prices have reached an all-time high.*

Homeowners, you're in luck: U.S. real estate prices have reached an all-time high.

September home prices topped their previous peak set in July 2006, according to the S&P CoreLogic Case-Shiller Index. The former high occurred about a year and a half before the subprime mortgage crisis that plunged the U.S. economy into the Great Recession. Prices also rose by 5.5% compared with September 2105.

Seattle saw the highest price gains, soaring 11% since last year. It was followed by Portland, Ore., where prices jumped by 10.9%, and Denver, with an 8.7% increase. Home prices in the nation's 20 largest cities rose by 5.1%.

The spike in home prices is caused by increasing demand and tightening supply. Prices have also been propped up by mortgage rates that fell to a three-year low this year.

As a result, competition for homes has become intense. Less than half of buyers are getting the first home on which they make an offer, according to a [report from Zillow](https://money.com/millennials-shaping-housing-market/?iid=sr-link1) released in October.

Prices in the most recent report were measured before mortgage rates increased in November. The rate for a 30-year fixed mortgage [jumped](http://www.bankrate.com/mortgage.aspx?type=refinance&market=2&propertyvalue=325000&loan=260000&perc=20&prods=215,393,216,392&fico=740&points=Zero&cs=0) from about 3.5% to above 4% after the presidential election.

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