Housing Market Shows Big Improvement
There is encouraging news in thehousing market.
Home prices in 20 major markets posteda 9.3 percent rise over the last 12 months. That is the biggest 12-month gainsince May 2006.
The housing recovery has been drivenby near record-low mortgage rates, a drop in foreclosures and reducedunemployment.
Despite the improvement, the housingmarket index is still down 28 percent from the peak in 2006.