Monday, April 1, 2013

Home Prices See Biggest Rise Since Housing Bubble

The 20 largest markets in the nation have showed the biggest year-over-year gain in prices since June 2006, according to The S&P Case-Shiller index.

This is the largest gain since the housing bubble burst.

"This marks the highest increase since the housing bubble burst," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.

All of the 20 markets posted a year-over-year gain.

Detroit was the only market that did not show an increased pace.

February Shows Large Drop In Number Of Houses Lost To Foreclosure

A majority of the gains were seen in areas that were hit hard by foreclosures, such as Los Angeles and San Francisco.