U.S. home prices rose 12.4 percent in July compared with a year ago, the most since February 2006. An increase in sales on a limited supply of available homes drove the gains.
President Barack Obama’s visit to Phoenix on Tuesday shines a spotlight on one of the nation’s most rapid housing recoveries, with home prices soaring and bidding wars occurring on a regular basis.
U.S. home prices jumped 12.2 percent in May compared with a year ago, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening.
U.S. home prices jumped 12.1 percent in April from a year ago, buoyed by strong demand and a limited supply of available homes. Strong gains in most cities measured point to a broad-based housing recovery.
U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006.
U.S. home prices jumped in February by the largest amount in seven years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season.