U.S. home prices jump 4.3% year-on-year

12/26/2012 | Bloomberg

As of October, U.S. home prices in 20 major cities were up 4.3% from a year before, according to a private index, for the sharpest gain since mid-2010. The S&P/Case-Shiller reading confirms that the key housing market "is definitely starting to recover," adding "about a trillion dollars to household wealth just since the beginning of this year," said Ryan Wang, an economist with HSBC Securities USA.

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