U.S. home prices rose again in January. We’re witnessing the fastest pace of price growth since July 2006, which was during the housing bubble.

From Zillow:

Zillow’s January Real Estate Market Reports, released today, show that national home values rose 0.7% from December to January to $158,100.  January 2013 marks the 15th consecutive month of home value appreciation.

On a year-over-year basis, home values were up 6.2% from January 2012 – a rate of annual appreciation we haven’t seen since July 2006 (when the rate was 7.5%), before the peak of the housing bubble.

The Zillow Home Value Forecast calls for 3.3% appreciation nationally from January 2013 to January 2014. Most markets have already hit a bottom – with only 9 out of 260 not projected to hit a bottom within the next year – and 78 out of the 260 markets covered are forecasted to experience home value appreciation of 3% or higher.

Read more: http://www.businessinsider.com/zillow-january-home-prices-2013-2#ixzz2LdOpRgiD

Compare to the San Diego Metro area (+12.9% Y-O-Y):