News Summary: US home price gauge rises in August

Associated Press Modified: October 2, 2012 at 5:15 pm •  Published: October 2, 2012
Advertisement
;

HOME PRICES RISE: 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.

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

ECONOMIC BENEFIT: When prices rise people typically feel wealthier and spend more. And more Americans are likely to put their houses up for sale, which could further energize the market.



Trending Now


AROUND THE WEB

  1. 1
    10 Most Popular Wedding 'First Dance' Songs
  2. 2
    Psychologists Studied the Most Uptight States in America, and Found a Striking Pattern
  3. 3
    Facebook Post Saves Drowning Teen
  4. 4
    Saturday's front page of the New York Times sports section is simple: LeBron James and transactions
  5. 5
    The 19th-century health scare that told women to worry about "bicycle face"
+ show more