Real Estate
Click Here To See How Much Your Troy Home Value Has Changed Since 2004
A Washington Post analysis looks at housing prices before and after the financial collapse.

TROY, MI — Has your property value increased or decreased since 2004, when housing prices began to bubble only to collapse in 2007? How has your area recovered since then?
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Those are the questions The Washington Post set out to answer, not just for the country overall but for individual towns and neighborhoods, a total 19,000 U.S. zip codes.
Find out what's happening in Troyfor free with the latest updates from Patch.
Here’s what we found in Troy: A single-family home in ZIP code 48098 in Troy was worth$333,048 on average in 2015, about 2 percent more than in 2004.
Find out what's happening in Troyfor free with the latest updates from Patch.
Post staffers Ted Mellnik, Darla Cameron, Denise Lu,Emily Badger and Kat Downs used data from Black Knight Financial Services to compare home prices from 2004, just as real estate prices started to skyrocket, to 2015.
The data does not account for inflation but does correct for foreclosures and distressed sales to better reflect home values, the Post said.
In Michigan, for example, home values are 11 percent lower than they were in 2004. But there are vast differences in the state and even in the same county. In Pontiac, homes were valued at $50,858 on average in 2015, 59 percent less than they were in 2004. But in Bloomfield Hills, just 5 miles away, they were valued at $304,403 on average in 2015, about 3 percent less than in 2004.
Regional differences were found in the analysis.
In Brooklyn, New York, for example, home prices have increased by 146 percent since 2004. But in Decatur, Georgia, a suburb outside of Atlanta, prices are down 25 percent.
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