Home Prices Expected To Continue To Rise

Home prices jumped 9.7% in January from the previous year, and analysts are predicting similar numbers for February. This is the biggest year-over-year increase in almost seven years, and marks the 11th straight month of price increases. Overall, 22 states saw price increases of 6% or more in January. This growth is surprising for the typically slower winter season, and economists are optimistic that the market has good momentum going into the spring selling season. The housing market’s dramatically depleted inventory supply is helping to drive prices up. Fourteen states and Washington, D.C. are now within 10% of their pre-economic downturn peaks. To read the full report visit USA Today.