Home prices in lackluster markets return to 1997 levels

The Housing Wire reports:

Real estate prices in a few U.S. markets are back to levels not seen in a decade, according to data released by John Burns Real Estate Consulting on Friday.

In a report titled, "Back to the Future: Median Home Prices Mirror Years Past," the study's author Gregory Tsujimoto says prices in Atlanta, Las Vegas, Phoenix and Oakland have fallen back to 1997 levels, while healthier markets throughout Texas are hovering at 2006 levels, suggesting the state's brighter employment prospects are preventing steep drops.

The markets performing the best include Dallas, Houston, Austin and San Antonio.

Remember when the National Association of Realtors said it was always a good time to buy real estate?