S&P/Case-Shiller Index: Good News for Home Values

Today the S&P Dow Jones Indices released data illustrating an average annual gain of 7.3% for home values nationally.  According to the S&P/Case-Shiller Index, home values in Los Angeles rose an average 10.2% in 2012, with a 1.1% gain in December alone.  The news is better than most had anticipated and would appear to confirm both the end of the recession, and the beginning of a new expansion.