Price indices constructed by Zillow show rapid increases in many of the cities that had been hardest by the collapse of the housing bubble. In the Zillow index, the year-over-year increase in prices in Las Vegas was 29.4 percent, a rate matched by Vallejo, CA. Modesto, CA, had a 27.0 percent year-over-year increase in prices. In Stockton, CA, the rise was 25.8 percent.
For more, check out the latest Housing Market Monitor.