Home prices posted their biggest annual gain since May 2006

Home prices posted their biggest annual gain since May 2006, according to the most recent CoreLogic Home Price Index (HPI) report.When including distressed sales, home prices in November rose 7.4 percent year-over-year. Prices also displayed a slight month-over-month increase, rising 0.3 percent from October.

“As we close out 2012 the pending index suggests prices will remain strong,” said Mark Fleming, chief economist for CoreLogic, in a release. “Given the recently released QM rules issued by the CFPB are not expected to significantly restrict credit availability relative to today, the gains made in 2012 will likely be sustained into 2013.”

Read the full article below.

http://www.dsnews.com/articles/index/corelogic-home-prices-in-november-reach-6-year-high-2013-01-15

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