Salient to Investors:
Residential real estate prices increased in January by the most since June 2006, exceeding the median forecast.
Historically low lending rates and a stronger labor market have helped fueled the rebound in housing.
Christophe Barraud at Market Securities-Kyte Group said housing keeps on recovering, and interest rates are staying low, meaning more first-time homebuyers.
S&P/Case-Shiller said the year-over-year price change provides better indications of trends in prices.
David Blitzer at S&P said economic data continue to support the housing recovery.
The supply of homes for sale rose to 1.94 million in February, more than a million units less than the average in the 5 years leading to the 2007-2009 recession.
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