U.S. home prices jump

U.S. home prices jump

A measure of U.S. home prices jumped 4.6% in August, the largest year-over-year increase in over six years.

Steady price increases, combined with greater home sales and rising builder confidence, suggest the housing recovery may be sustainable.

States with the biggest price increases in the past 12 months were Arizona, Idaho, Nevada, Utah and Hawaii. Prices soared 18.2 percent in Arizona, partly because the supply of homes for sale is low and foreclosure sales have slowed. Prices have risen 10.4 percent in Idaho.

Read more at The Statesman Journal.

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