Housing Prices No Longer in Freefall
According to the Brookings Institution, in the third quarter of 2010, housing prices rose in 80 of the 100 largest metropolitan areas in the U.S., and rose 0.6 percent overall among those 100 cities. While the gain is small, it's significant because each of those 100 cities had experienced a decline in housing prices for the previous three quarters [source: Wial & Shearer].
Housing prices are an important indicator of economic recovery in general because, for most Americans, the majority of their wealth is tied to the value of their home. It may be an even more important as a sign of recovery right now because the Great Recession is so closely linked to a collapse in the housing market.