Daily Economic Indicator: Home prices increase for first time in 15 months

03/21/2012 | Reuters

The median price for a U.S. home increased 0.3% in February from a year ago to $156,600, the first annual increase since November 2010, according to the National Association of Realtors. February's existing-home sales dipped 0.9% from January but improved 8.8% from a year earlier. "The unusually mild winter may have helped boost existing home sales in recent months, but we do not think this is the only factor driving up sales," says JPMorgan economist Daniel Silver.

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