US home prices rose in Oct. by most in 6 years


Associated Press

WASHINGTON

A measure of U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a comeback in the once- battered housing market.

Core Logic also said Tuesday that prices declined 0.2 percent in October from September, the second drop after six- straight monthly increases. The monthly figures are not seasonally adjusted. The real-estate data provider says the decline reflects the end of the summer home-buying season.

Steady price increases are helping fuel a housing recovery. They encourage more homeowners to sell their homes. And they entice would-be buyers to purchase homes before prices rise further.

Home values are rising in more states and cities, according to the report.

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