Survey: US Home Prices Up 10.5 Pct. in Past Year

Core Logic, a real estate data provider, reported that home prices have increased for 13 straight months. This is believed to be due to a few factors, including the limited supply of homes for sale. The trend is occurring all over the U.S., with 46 states reporting increases, 11 of those being in the double digits. Steady job creation and record-low mortgage rates have boosted home sales as well as construction in the past year. However, the number of homes for sale has decreased, leaving the amount of supply lower than the healthy market rate. Rising home prices can not only stimulate the economy, it can also boost Americans' overall net worth. Read the full article here: http://business.time.com/2013/05/07/us-home-prices-up-10-5-pct-in-past-year/