US House Prices Rise 5.5 percent from a year ago

The US housing market rebound gained steam in November, new data suggests.

House prices were 5.5% up on a year ago, according to the widely-watched Case-Shiller index, the fastest rise since the market crash began in 2006.

However, separate data suggested US consumer confidence took an unexpected knock in January, as rises in income and payroll taxes came into effect.

The Conference Board’s Consumer Confidence Index fell sharply to 58.6 in the month, from 66.7 in February.

It was the lowest reading in more than a year. Analysts had been expecting a level of about 64.

via BBC

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