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November 7, 2012

Home price jump biggest since 2006

  • Prices jumped 22.1 percent in Phoenix, the metro area with the biggest gain.
  • By CHRISTOPHER S. RUGABER
    AP Economics Writer

    WASHINGTON — A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery.

    The real estate data provider also said Tuesday that prices declined 0.3 percent in September from August, the first drop after six straight increases. The monthly figures are not seasonally adjusted. CoreLogic says the monthly decline reflects the end of the summer home-buying season and not a softening in the housing recovery.


     
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