Home prices could post their first annual increase since the height of the housing bubble in 2006.
CNBC’S Jackie DeAngelis reports the latest S&P Case-Shiller home prices index showed a gain of 4.3% in October. It also showed that, since January, prices are up 6.9% this year, their largest year to date gain since 2005.
DeAngelis said “many analysts and market participants look to housing as a foundation for the health of the broader economy. The school of thought is that housing must show signs of life before the U.S. economy can really improve.”