Home Prices in 20 U.S. Cities Climb by Most Since June 2006 – Bloomberg 03-26-13

Salient to Investors:

Residential real estate prices increased in January by the most since June 2006, exceeding the median forecast.

Historically low lending rates and a stronger labor market have helped fueled the rebound in housing.

Christophe Barraud at Market Securities-Kyte Group said housing keeps on recovering, and interest rates are staying low, meaning more first-time homebuyers.

S&P/Case-Shiller said the year-over-year price change provides better indications of trends in prices.

David Blitzer at S&P said economic data continue to support the housing recovery.

The supply of homes for sale rose to 1.94 million in February, more than a million units less than the average in the 5 years leading to the 2007-2009 recession.

Read the full article at http://www.bloomberg.com/news/2013-03-26/home-prices-in-20-u-s-cities-climb-by-most-since-june-2006.html

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