Case Shiller was reported this morning up 1.2% y/y for July. The datapoint serves as confirmation that housing prices are recovering.
Below is a chart of Case Shiller vs. the S&P 500 since 2000. It shows that even though housing prices may be starting to turn, they still have quite a ways to climb. Also it highlights that even despite the housing bubble burst, housing prices have still risen since the turn of the century and have thus outperformed equities.