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Home Prices Rise 10 Percent, Power US Optimism

avatar By Jeanne Goddard

29 May 2013 38 views
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Home Prices Rise 10 Percent, Power US Optimism
Home prices surged during the first quarter at their fastest pace in nearly seven years, the latest sign of a sustained economic recovery. Consumer confidence also helped push stocks to a new high on Tuesday.

Home prices surged during the first quarter at their fastest pace in nearly seven years, the latest sign of a sustained economic recovery.

The housing-market revival—and an accompanying report on consumer confidence— is boosting both asset prices and spending.

The latest reports were big factors driving financial markets Tuesday. Stock investors, encouraged by the strong data, sent the Dow Jones Industrial Average to a new high.

(READ the story in the Wall Street Journal)

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