A home for most Americans is a savings account. According to the latest S&P/Case-Shiller Home Price Indices, home prices are on the rise. The S&P Home Price Indices are the leading measures of U.S. residential real estate prices. This suggests that the steep declines of 2005 – 2009 are behind us and prices may continue to rise.
The west is showing the greatest rebound, with the LA Times reporting a 25% increase in housing prices for some markets in California. In fact, even actors are starting to offer up their Southern California multimillion dollar homes.
The North-East area and parts of the manufacturing areas show the least amount of price increases.