If you bought a home during the real estate bubble and are waiting to sell when you’ve recouped your losses, you may be moving straight into the old-folks home, especially if you live in the Sun Belt.

A Fiserv study predicts that home prices won’t hit the national average peak price of $238,000 again until 2023. Nationwide, prices will improve an average of 3.7 percent a year for the next five years, according to Fiserv. If it continues at that rate, it will be another six years until home prices catch up to the highs of 2007.

Home prices sank by a third from the beginning of 2007 to the beginning of this year. The Standard & Poor’s 500/Case-Shiller index of 20 metro areas shows that home prices rose overall by 1.2 percent in July from a year earlier, proving that we’re in the very early stages of a recovery.

Fiserv points to several markets that could take longer than a decade to recover. They include some states in the Sun Belt that were hardest-hit by the real estate bust: Florida, Nevada, California and Arizona. California, for example, is predicted to grow by 4.4 percent over the next five years — a little faster than the national average — but prices plummeted in that state by more than 45 percent since 2007.

A few markets in the Fiserv study are already slightly above their peak prices, because they never soared as high as they did in states where real estate speculation was booming. South Dakota, Texas and West Virginia are enjoying prices just above 2007 values, while North Dakota’s prices are already more than 17 percent higher.

How has the value of your home fared when compared to 2007?

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