WASHINGTON (November 6, 2012)--A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006 and the gain reported Tuesday by CoreLogic offered more evidence of a sustainable housing recovery.
The real estate data provider also says prices declined 0.3 percent in September from August, the first drop after six straight increases.
The monthly figures are not seasonally adjusted.
CoreLogic said the monthly decline reflects the end of the summer home-buying season and not a softening in the housing recovery.
Steady price increases should give the housing market more momentum when home sales pick up in the spring.
Rising prices encourage more homeowners to sell their homes and entice would-be buyers to purchase homes before prices rise further.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.