News

Home Prices Post Largest Gain Since 2006

View Comments
(photo: Ethan Miller/Getty Images)

(photo: Ethan Miller/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

(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.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,080 other followers