After reaching highs in the second quarter of 2006, the US Zillow Home Value Index reported increases.

From 12.4% annualized depreciation in March 2009, the depreciation rate moved to 12.3% in April, 12.2% in May and 12.1% in June. Even some of the most hard hit areas in the US are reporting that they have had about 5 to 8 months of these rates decreasing. 

These signs are good for stabilization of home values.