Jan. Home Prices See Biggest Jump Since 2006

Case-Shiller index points to 8.1% growth year-over-year
By Matt Cantor,  Newser Staff
Posted Mar 26, 2013 10:05 AM CDT
Jan. Home Prices See Biggest Jump Since 2006
In this Wednesday, Feb. 27, 2013, photo, a "for sale" sign is seen outside a home in Glenview, Ill.   (AP Photo/Nam Y. Huh)

Home prices jumped 8.1% this January compared to a year before, according to the 20-city Case-Shiller index. That beats economists' expectations of a 7.9% increase and marks the biggest year-over-year jump since the summer of 2006, the Wall Street Journal reports. In other words, it's "the highest increase since the housing bubble burst," says the head of Standard & Poor's index committee. The 10-city index saw a 7.3% year-over-year increase; both the 10- and 20-city indices saw seasonally-adjusted 1% increases between December and January. (Read more Standard & Poor's stories.)

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