A mixed bag on home prices, as they rose across the Country last year and are expected to go up again this year. But, here in Jersey, there is a cloudy price picture.
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. The jump adds to signs of a comeback in the once-battered housing market.
U.S. home prices jumped 3.8 percent in the 12 months ending in July, according to a private real estate data provider. The year-over-year increase was the biggest in six years, further evidence that the housing market is steadily recovering.
Home prices rose in nearly all major U.S. cities in April from March, further evidence of a housing market that is slowly improving even while the job market slumps.
The news from the builders' front is a mixed bag. They are still not doing the new housing sales volume of former times, but they continue to show optimism that buyers will be coming back.
U.S. home prices fell in most major cities for the second straight month, further evidence that the housing recovery will be bumpy and weigh on the broader economy in 2012.