WASHINGTON — A measure of U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a comeback in the once-battered housing market.
Home values are rising in more states and cities, according to the report by Core Logic, a business data analyst.The biggest increases were in Arizona, where prices rose 21.3 percent, and in Hawaii, where they were up 13.2 percent.
Core Logic also said Tuesday that prices declined 0.2 percent in October from September, the second drop after six straight monthly increases.
The monthly figures are not seasonally adjusted. The real estate data provider says the decline reflects the end of the summer homebuying season.
Read tomorrow's Arkansas Democrat-Gazette for full details.