House prices peaked in late 1979 and it took 6.5 years for inflation-adjusted prices to recover. They next peaked in mid-1989 and this time it took 11 years. When they topped out again in mid-2005, it took until late 2020, 14.5 years, for prices to regain their pre-Housing Bust peak. Once home prices start falling, it can take a while for them to fully recover in inflation-adjusted terms.