Check out the nice price rise in Q1 2012 versus Q1 2011 for Case Shiller.
As I have been saying for some time, this is an apple to orange comparison — pitting a period of high foreclosures versus a period of voluntary foreclosure abatement by the money center banks.
Distressed sales are 20% < less than non -distressed sales. The NAR has reported that the number of distressed sales has fallen from 38% to 26% of the total basket.
Do the math, and this accounts for nearly all of the price improvement.
S&P Dow Jones Indices
Home Prices Rose in the Second Quarter of 2012
According to the S&P/Case-Shiller Home Price Indices
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.