Real Estate, U.s. Economy | featured news

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.

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.

New single-family home sales fell slightly in October and the prior month's pace of sales was revised sharply lower, casting a small shadow over what has been one of the brighter spots in the U.S. economy.

A housing comeback is now underway; that much is clear. Adding to a steady drumbeat of positive data for the sector, new data on Tuesday showed a surprising 3.6 percent gain in housing starts in October, which came on the back of a 15.1 percent rise in September.

U.S. builders started construction last month on the most single-family homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.