Home prices post biggest annual jump in two years

Posted by Bonnie Martin Designated Broker on Wednesday, December 26th, 2012 at 10:59am.

home-price-increase_340The recovery in the housing market continues to pick up steam, as home prices posted the biggest percentage gain in more than two years in the latest reading of the closely followed S&P/Case-Shiller index.

The index showed prices up 4.3% in October compared to a year earlier. That's the best improvement since May 2010. But that earlier increase was due to a temporary spike caused by a homebuyers' tax credit of up to $8,000 on homes purchased in late 2009 and early 2010.

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