Housing Market, U.s. Economy | featured news

U.S. home prices jumped in January, a sign the housing market is gaining momentum as it nears the spring selling season.

A measure of the number of Americans who signed contracts to buy homes rose in January from December to the highest level in more than 2 ½ years. The increase suggests sales of previously occupied homes will continue rising in the coming months. The National Association of Realtors says its seasonally adjusted index for pending home sales rose 4.5 percent last month to 105.9. That's the highest since April 2010, when a homebuyer's tax credit was about to expire.

The US economy registers surprisingly strong consumer confidence and new home sales data, suggesting the recovery is gathering steam.

U.S. home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday.

U.S. home resales edged higher in January and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the U.S. housing market.

U.S. home prices jumped by the most in 6 1/2 years in December, spurred by a low supply of available homes and rising demand.

Home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend.

The U.S. economy is a study in contrasts. The housing, banking and auto industries are surging back to health and that has helped push the stock market to a five-year peak. Higher prices for homes and stocks tend to make people feel wealthier and spend more.

A measure of Americans who signed contracts to buy homes fell last month after reaching a 2 1/2-year high in November. Sales were held back by a limited supply of available homes. The National Association of Realtors said Monday that its seasonally adjusted index for pending home sales dropped 4.3 percent in December from November to 101.7. That's still 6.9 percent higher than a year ago.

Sales of new U.S. homes cooled off in December compared with November, but sales for the entire year were the best since 2009.