Report: 16 Markets Reach Full Recovery in May

Housing markets across the country continue to show improvement. The list of fully recovered housing markets across the country stood at 16 as of the end of May, up from 14 in the prior month, according to a ""report"":http://press.homes.com/wp-content/uploads/2013/08/Homes.com-Rebound-Report-Summary-May-2013-FINAL.pdf from ""Homes.com"":http://www.homes.com/.

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Also, 38 markets are at least 50 percent recovered, meaning prices in these markets have regained at least half the value they lost during the recession.

Several markets are more than fully recovered, and in fact, five markets have rebounded more than 200 percent since the recession.

Four of the top five markets demonstrating the strongest rebound are in Texas.

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San Antonio, Houston, and Austin, Texas, top the list with rebounds of 227 percent, 218 percent, and 214 percent, respectively.

The market that has rebounded the least since the recession is Providence-New Bedford-Fall River, Rhode Island-Massachusetts.

Other markets in the bottom 10 on Homes.com's rebound report are located in Florida, California, Connecticut, and Nevada.

Homes.com also released its ""Local Market Index"":http://press.homes.com/wp-content/uploads/2013/08/Homes.com-Local-Market-Index-Report-Summary-May-2013-FINAL.pdf Wednesday, revealing decrease in the number of markets demonstrating monthly increases in May. Prices increased in 95 of the top 100 markets in May, a slight disappointment following April's impressive roster of price improvement included all 100 markets.

Honolulu, Hawaii, saw the greatest monthly price appreciation in Mayâ€"a gain of 4.64 index points.

Honolulu also posted the greatest year-over-year increase in May, with prices experiencing a 23.60 index-point increase.

The next three markets on the Homes.com list of year-over-year price appreciation are located in California: Los Angeles with a 20.57 index-point gain, San Francisco with a 19.91 index-point increase, and Salt Lake City with an 18.16 index-point increase.

_[Editor's note: Homes.com revised data in their May report due to a ""system error."" Edits were made to reflect the changes.]_