(Click chart to enlarge)
The above is from the latest Case Shiller home price index. Notice the area in the black square. Note particularly that is has been around this level for the last two years or so. Finally, notice that prices have been in a fairly tight range for this period.
There's been an awful lot of talk/hype/pixels spilled lately regarding home prices. The above chart tells us that home prices have been fairly stable for the last two years. In fact, as NDD has pointed out, home prices may be far closer to stabilizing than previous thought.