US Home Prices See Biggest Rise Since 2006

US home prices have seen their biggest annual rise since 2006, a closely-watched survey suggests. The Standard & Poor’s/Case Shiller index, which monitors single-family home prices across 20 cities, rose 12.1% in April compared to the same month last year. The jump, due to increasing demand and a shortage of supply, was bigger than many analysts had been expecting. (Agency)