U.S. home prices rose 6.3% in October from a year ago, the largest yearly gain since July 2006.
Steady price increases are helping fuel a housing recovery. They encourage more homeowners to sell their homes. And they entice would-be buyers to purchase homes before prices rise further.
Mortgage rates are near record lows, while rents in many cities are rising. That makes home buying more affordable, pushing up demand.
Read more at The Register-Guard.