Home prices approach 7 year high

The Standard and Poor's/Case Shiller 20-city home price survey reports homes are approaching their highest price in 7 years. They report the year over year gain at +12.2%, the highest level since March 2006. Home prices in Las Vegas soared +24.9% and San Francisco was up +24.5%. Markets that were hit the hardest are showing the largest gains coming back to pre-recession pricing.