Salient to Investors:
The S&P/Case-Shiller index of property values increased 4.3 percent from October 2011, the biggest 12-month advance since May 2010. David Blitzer at S&P/Case-Shiller said the housing recovery is gathering strength, confirmed by strong performances in the southwest and California.
Property values will keep rising as record-low mortgage rates, a growing population and an improving economy spur demand.
Ryan Wang at HSBC Securities USA said housing is definitely recovering and the boost to household net worth will benefit consumers and the broader economy.
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