In a monthly comparison during May, the financial data companies Standard & Poor and Case-Shiller showed an increase in home values for the first time in almost three years.

According to David Blitzer, chairman of the index committee for Standard & Poor, "This could be an indication that home price declines are finally stabilizing."

Some economists argue that this may only be a temporary incline and that prices may continue to fall throughout the year, as foreclosures may very well take off again. As the Obama Administration announced its new Home Price Decline Protection program, it is apparent that the governments’ efforts are boosting the nation's confidence, which is important for the housing market.