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Measure of US home prices rises by most in 6 years

Posted by Bonnie Martin Designated Broker on Tuesday, October 9th, 2012 at 7:42am.

WASHINGTON (AP) — A measure of U.S. home prices jumped 4.6 percent in August compared with a year ago, the largest year-over-year increase in more than six years.

CoreLogic, a private real estate data provider, also said Tuesday that prices rose 0.3 percent in August from July, the sixth straight monthly gain.

Steady price increases, combined with greater home sales and rising builder confidence, suggest the housing recovery may be sustainable.

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