Svenja Gudell of Zillow Gudell: “Demand for the limited supply of entry-level homes is pushing up their values.”

SEATTLE—For commercial property, a recent trend has seen greater price appreciation in the market’s lower tiers. In the residential sector, though, the reverse is true: Zillow said Thursday that in 24 of the 35 largest US housing markets, the lowest-priced homes are least likely to have recovered their pre-recession values.