News Summary: US home prices jump 10.9 pct.
Comments (0) | 
Print |
Source: Business News
Originally published: May 28, 2013 - 2:09 pm
Originally published: May 28, 2013 - 2:09 pm
(AP) - BIG GAIN: U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. The Standard & Poor's/Case-Shiller home price index released Tuesday also showed that all 20 cities measured by the report posted year-over-year gains for the third straight month.
SMALL SUPPLY: A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover. The number of available homes jumped in April, but was still 14 percent below year-ago levels.
ECONOMY BENFITS: Higher home prices make homeowners feel wealthier and encourages more spending.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
0 Comments | Join the conversation »
