According to a new House Price index, the IAS360, home prices rose by 1.1 percent in June over May. Of course, they’re down by over 11 percent from June of 2007, but it could help drive the recovery process for the real estate market as fear subsides and prospective buyers on the sidelines start jumping into new homes.

The Midwest led the “charge” with a 4.7 percent increase. Prices in the West fell a smidgen (0.5 percent).

Click here for the June index: IAS360 House Price Index