Measure of US home prices rises by most in 6 years
A measure of U.S. home prices jumped 4.6 percent in August compared to a year ago, the largest year-over-year increase in more than six years.
CoreLogic, a private real estate data provider, also says prices rose 0.3 percent in August from July. The sixth straight month of price gains, combined with rising home sales and increased builder confidence, point to a housing recovery that is becoming sustainable.
Other measures of home prices have increased. The Standard & Poor's/Case Shiller index rose in July compared to a year ago, the second straight yearly increase after two years of declines. And an index compiled by a federal housing regulator has also reported annual increases.
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