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U.S. home prices rose by most in nearly 7 years
By The Associated Press
This article was published March 5, 2013 at 8:30 a.m.
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WASHINGTON — U.S. home prices jumped in January, a sign the housing market is gaining momentum as it nears the spring selling season.
Home prices rose 9.7 percent in January from a year ago, according to data released Tuesday by CoreLogic. That’s up from an 8.3 percent increase in December and the biggest annual gain since April 2006.
Prices rose in all states except Delaware and Illinois. And prices increased in 92 of the 100 largest metro areas, up from 87 in December.
Home prices also rose 0.7 percent in January from December. That’s a solid increase given that sales usually slow over the winter months.
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Jackabbott says... March 5, 2013 at 8:50 a.m.
This is a good sign. Hopefully, we do not get into another cycle where Homebuilders using cheap, illegal labor have financial institutions pawned the houses off to people that cannot afford to pay for them and then expect the government to bail them out.
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