Thu February 20, 2014
Report says housing prices in Omaha have rebounded from recession
A new study finds housing prices in Omaha have mostly recovered to pre-2008 economic crash levels.
UNO real estate researcher Steven Shultz did the study of housing values between 2000 and last month. It looked at valuations in 36 Omaha zip codes. Overall, between 2011 and 2013, housing values rose 11 percent.
Shultz says the report shows recovery from the 2008 economic crisis.
"We’ve fully recovered. The worst is past, and we’re likely to continue having price appreciation rates on average of about two to three percent a year for the next few years."
In some areas of Omaha, housing prices dropped 20 to 30 percent following the market crash, according to the report. Shultz says those areas, mostly in southeast and northeast Omaha, have seen housing prices improve 30 to 40 percent since 2011.
The report is based on values of more than 107,000 homes in the metro area as reported by the Omaha Area Board of Realtors.