Thursday, June 28, 2012
U.S. Home Prices Rise in April for a Third Month, FHFA Says
U.S. house prices rose 0.8% in April from the previous month, the third straight advance, as the property market shows signs of stabilization, the Federal Housing Finance Agency said. Consensus expectations were calling for a 0.4% gain. Prices jumped 3% from a year earlier. Job gains, low interest rates and a tight supply of homes for sale are boosting property prices following the worst slump since the Great Depression. The FHFA index, which measures price changes of single-family houses, showed increases in six of the nine regions covered on a seasonally adjusted basis.