WASHINGTON (AP) - US home prices jumped in January, a sign the housing market is gaining momentum as it nears the spring selling season.
Home prices rose 9.7 per cent in January from a year ago, according to data released on Tuesday by CoreLogic. The figure is up from an 8.3 per cent increase in December and the biggest annual gain since April 2006.
Prices rose in all states except Delaware and Illinois. They also registered increases in 92 of the 100 largest metro areas, up from 87 in December.
Home prices also rose 0.7 per cent in January from December. That is a considerable increase given that sales usually slow over the winter months.
source: straitstimes.com
