http://www.marketwatch.com/story/home-prices-leap-in-april-2013-06-25?link=MW_latest_news
Prices for U.S. homes leaped in April, posting record monthly growth and
the fastest year-over-year growth in seven years, according to
S&P/Case-Shiller data released Tuesday. With gains in 19 of 20
cities, the 20-city composite index rose 2.5% in April, the largest
monthly growth on record. The data go back to 2000. After seasonal
adjustments, prices rose 1.7% in April. Compared with the same period in
the prior year, prices in April rose 12.1%, the fastest annual pace
since 2006. San Francisco posted the largest year-over-year price growth
at 23.9%, while New York had the lowest at 3.2%. Economists had
expected that U.S. home prices rose in April, supported by low inventory
and demand spurred by low interest rates. Despite recent gains, the
20-city composite index indicated that prices remain about one-quarter
below a 2006 peak. Elsewhere Tuesday, a separate reading on home prices
from the Federal Housing Finance Agency, which regulates Fannie Mae and
Freddie Mac, showed a seasonally adjusted gain of 0.7% in Apri
Wonderful news, now about those jobs so one can purchase said home, you do need a job to buy a house correct? I fail to see how home price increases helps J6P? anyone borrowing and spending here?
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