Nearly five-and-one-half years after April 2007 — the housing market’s national peak — prices are finally beginning to rebound.
Home values have not dropped month-to-month since January of this year — a span of 6 months.
According to the Standard & Poor’s Case-Shiller Index, home prices rose 6.9% between the first and second quarter of 2012, the largest quarter-to-quarter gain since the home-value tracker’s 1987 inception.
According to the Federal Home Finance Agency’s Home Price Index, home prices rose by a seasonally-adjusted 0.7 percent between May and June 2012. The index is now up 3.0% over the past 12 months, and made its biggest quarterly gain since 2005 last quarter.
The housing market’s bottom is 9 months behind us. Home values continue to climb nationwide.