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News Summary: US home prices up by most in 6 years

Source : AP
Last Updated: Tue, Dec 04, 2012 17:15 hrs

: A measure of U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006, according to data provider CoreLogic.

GAINS SPREAD: Prices increased in 45 states in October, up from 43 the previous month. And in 100 large metro areas, only 17 reported price declines, down from 21 in September.

HOUSING RECOVERY: Steady price increases are helping fuel the housing recovery. They encourage homeowners to sell their homes. And they entice would-be buyers to purchase homes before prices rise further.

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