Healthier communities have fewer foreclosed properties pulling down values of other homes.

Amid the continuing gloom in the U.S. housing market, you can find small pockets of home-price stability — communities that are actually recovering from the housing bust…According to a statistical analysis performed for The Wall Street Journal by the online real-estate information and search firm Zillow, home values in a handful of communities are where they were just before the most frenzied days of the real-estate bubble. Focusing on communities with sufficient sales activity to produce statistically valid value estimates, Zillow spotted 25 places that are within single-digit percentage points of their home-value peaks. (Zillow found no communities where values have surpassed their high-water marks.) Not bad considering that home values in some major metropolitan areas are at half their bubble-era peaks.
By David Crook, June 20, 2011 WSJ

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06/20/11 WSJ