When the housing boom went bust in 2006, areas that saw the biggest declines in home prices included Miami, Phoenix, San Francisco, Detroit, Las Vegas and Minneapolis.
Today those cities have seen prices rebound, as the pace of foreclosures slows and investors buy up properties on the cheap and turn them into rentals.
Phoenix led the rebound of 20 cities surveyed by the Case-Shiller home-price index. And it's not just sellers of new homes seeing better days. Lower-end homes or those under $127,000 saw the biggest gains, rising by 33.5% in July from a year ago. Homes above $211,000 posted an 11.5% increase during the same period.