Tuesday, April 30, 2013

What Bubble? Home prices rise by most in seven years

Reuters reports that single-family home prices rose more than expected in February, posting their best annual rise since May 2006 in a fresh sign the housing recovery remains on track, a closely watched survey showed on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained 1.2 percent on a seasonally adjusted basis compared to January, topping forecasts for 0.9 percent.  Prices in the 20 cities gained 9.3 percent year-over-year, also beating expectations for 9 percent and the biggest increase since May 2006.  On a non-adjusted basis, prices rose 0.3 percent.

No comments:

Post a Comment