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Chart of The Day: Home Prices Surge +20% in 5 Months...

For some perspective on the all-important US real estate market, today's chart illustrates the inflation-adjusted median price of a single-family home in the United States over the past 42 years.

Not only did housing prices increase at a rapid rate from 1991 to 2005, the rate at which housing prices increased -- increased. All those gains were given back during the following 6.5 years. 

Over the past five months, however, the median price of a single-family home has surged by over 20% -- the biggest five-month gain on record (the data goes back to 1968).

The sharp downward trend that began in mid-2005 is now over.

Chart & Commentary Courtesy of Chart of the Day

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