http://finance.yahoo.com/news/home-prices-rise-seen-helping-135754218.html
Home prices rose in February at their fastest rate in almost seven years.
The S&P/Case Shiller index of 20 metropolitan areas released on Tuesday showed single-family home prices rose 9.3% in February from a year earlier.
Still, there appears to be a growing risk that weakness in the labor market and broader economy could dial down the housing recovery’s strength.
Other recent data has pointed to less steam building in the housing market, and the Commerce Department said on Tuesday that the U.S. home ownership rate slipped to 65.2% in the first quarter, a 17-year low.
Still, rising home prices could give construction firms more incentive to build new homes and increase inventories. A dearth of homes on the market has held back sales.
The S&P/Case Shiller index showed prices gained 1.2% in February on a seasonally adjusted basis from January, topping forecasts for a 0.9 % gain.
Following a spectacular collapse that fueled the 2007-09 recession, the housing sector appears to have turned a corner and prices have been rising since February 2012.
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