A new report from the National Association of Realtors says that the values of Houston homes have almost completely rebounded from a significant drop at the end of last year.

The NAR's third quarter housing report showed that the median sales price for existing single-family homes in the city over the past three months was $158,900. While that price is still below the $160,600 reported during the third quarter of last year, it's a significant improvement from the $150,000 mark that prices hit during the final three months of 2009.

According to  Lawrence Yun, the NAR's chief economist, "the overall improvement in Texas' home prices could be traced back to the state's strong job growth over the past year."

Nationwide, the report said that median prices had risen in 77 out of the 155 metro areas included in the study, a big jump from the 30 which showed similar results a year ago.

Average sales prices in Houston have also continued to grow, fueled by a number of high-end purchases, according to the Houston Association of Realtors. In September, the average existing home sales price grew by 5 percent compared with last year to $215,250.