Housing Market Turnaround: Home Prices Skyrocketing

Home prices jumped 6.3 percent in October, the biggest year-to-year gain since 2006.
0:35 | 12/05/12

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Transcript for Housing Market Turnaround: Home Prices Skyrocketing
Reporter: Important news and good news. Everyone's been waiting for the housing market to take off since the collapse in 2008. Now, we're learning that home prices jumped 6.3% in october, compared to the same time last year. That's the biggest year-to-year gain since 2006. Now, prices rose in 45 states, led by a 21% jump in arizona and a 13% rise in hawaii. And according to the national association of realtors, they say the number of homes available right now, the lowest level in ten years. These are great numbers, josh, that's helping to increase demand along with low mortgage rates.

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