News Summary: Home prices up 8.3 pct in December

US home prices jumped in December from the previous year by most since May 2006

Associated Press

HOME SWEET HOME: U.S. home prices jumped by the most in 6 ½ years in December, spurred by a low supply of available homes and rising demand.

BRICK BY BRICK: Home prices rose 8.3 percent in December compared with a year earlier, according to a report Tuesday from CoreLogic, a real estate data provider. That is the biggest annual gain since May 2006. Home prices also increased 0.4 percent in December from the previous month.

WHERE'S IT HAPPENING: The states with the biggest price gains were Arizona, Nevada, Idaho, California and Hawaii. The only four states where prices fell were Delaware, Illinois, New Jersey and Pennsylvania.

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