Home prices in U.S. cities post big increase in March

By Alejandro LazoMay 28, 2013, 6:49 a.m.

Home prices in the largest U.S. cities are recovering at boom-era levels, with a closely watched index posting its strongest increase in close to seven years.

Tight housing supply and strong demand continued to fuel a robust market recovery in March, with the Standard & Poor’s/Case-Shiller index of 20 U.S. cities recording a 10.9% year-over-year increase.

That was the strongest increase since April 2006. The index was up 1.4% from the prior month.

A separate national index showed home prices rising 10.2% year-over-year at the end of the first quarter.

 

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