Economy, Real Estate | featured news

U.S. home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday.

U.S. home resales edged higher in January and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the U.S. housing market.

U.S. homebuilders began work at a slower pace in January than in December, though activity was the third-highest since 2008. The steady pace of construction is a sign of continued strengthening in residential real estate.

Home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend.

Sales of new U.S. homes cooled off in December compared with November, but sales for the entire year were the best since 2009.

U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis.

A housing renaissance has begun. This may be hard to believe after the dizzying, six-year-long crash in home sales, construction and house prices. But housing turned the corner last year, and it will take off in 2013.

While malls appear to be past their peak in the United States, in Russia they are luring shoppers with money to spend, and investors like Morgan Stanley... Shoppers who find that 250 stores aren’t enough can go ice skating, watch movies or even ride a carousel, all under a single roof.

Home prices posted their biggest annual jump in more than six years in October in a sign the housing sector continues to recover, data analysis firm CoreLogic said on Tuesday.

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years.