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Home Prices Post Largest Gain Since 2006

(New York, NY) — Home prices in the top 20 markets rose nearly 7% last year. That was the largest yearly gain in the S&P/Case-Shiller index since 2006.

Phoenix led the way with a 23% gain, followed by San Francisco with 14.5%. Las Vegas took third place with an increase of 12.9% over 2011.

Of the twenty metro areas surveyed, New York was the only market where home prices actually dropped in 2012, but only by about a half-percent.

Record low mortgage rates and a smaller supply of homes for sale helped drive up prices last year.

  • http://www.city-data.com/forum/las-vegas/271683-current-update-lv-real-estate-market-624.html#post28428429 Current Update on the LV Real Estate Market -- Part II - Page 624 - City-Data Forum

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