U.S. home prices post healthy gain in December
In this Saturday, Jan. 5, 2013, photo, a "for sale" sign is seen outside Glenview, Ill. (AP / Nam Y. Huh)
Published Tuesday, February 26, 2013 9:35AM EST
WASHINGTON -- U.S. home prices rose at a healthy pace in December compared with a year ago, driven higher by rising sales and a smaller supply of available homes.
The Standard & Poor's/Case-Shiller 20-city home price index rose 6.8 per cent in December compared with the same month a year ago. That's up from a 5.5 per cent annual gain in November.
Nationwide, the report says prices rose 7.3 per cent in 2012. That is similar to other home price measures that show a healthy gain last year.
Prices also rose in December compared with a year ago in 19 of the 20 cities tracked by the index. New York was the only metro area to show a decrease.