Local January home prices are up nearly 10 percent from the same time a year ago, the latest S&P/Case-Shiller Home Price Index shows. That marks the seventh straight month of year-over-year increases. It also was the highest year-over-year jump since June 2010.
Home values essentially stayed flat from December to January, falling 0.6 percent, according to the leading real estate indicator…
…When looking at all 20 areas, residential prices have gone up 8.1 percent from a year ago, the largest year-over-year increase since June 2006, or “since the housing bubble burst,” said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices.
“Economic data continues to support the housing recovery,” Blitzer said. “Single-family home building permits and housing starts posted double-digit year-over-year increases in February 2013.
“Despite a slight uptick in foreclosure filings,” he added. “Numbers are still down 25 percent year-over-year. Steady employment and low borrowing rates pushed inventories down to their lowest post-recession levels…”
Read the rest of this article by U-T San Diego here: Home prices up 10% from year ago.