News Summary: US home prices up 10.5 pct. in March

May 7, 2013 @ 12:57 pm

(AP) - BIG PRICE GAINS: A survey by real estate data provider CoreLogic shows U.S. home prices rose 10.5 percent in March compared with a year ago, the biggest gain since March 2006.

MOST STATES: Prices increased in 46 states. Nevada led all states with a 22.2 percent annual gain. It was followed by California (17.2 percent), Arizona (16.8 percent), Idaho (14.5 percent) and Oregon (14.3 percent).

DEMAND UP, SUPPLY DOWN: Steady job creation and record-low mortgage rates have boosted home sales and construction in the past year. More buyers are also bidding on a limited supply of homes, which has helped push up prices.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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