Home prices post biggest jump in over six years: CoreLogic

05-Dec-2012

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Mr. Gao co-found and became the CFO at Oxstones Capital Management. Mr. Gao currently serves as a director of Livedeal (Nasdaq: LIVE) and has served as a member of the Audit Committee of Livedeal since January 2012. Prior to establishing Oxstones Capital Management, from June 2008 until July 2010, Mr. Gao was a product owner at Procter and Gamble for its consolidation system and was responsible for the Procter and Gamble’s financial report consolidation process. From May 2007 to May 2008, Mr. Gao was a financial analyst at the Internal Revenue Service’s CFO division. Mr. Gao has a dual major Bachelor of Science degree in Computer Science and Economics from University of Maryland, and an M.B.A. specializing in finance and accounting from Georgetown University’s McDonough School of Business.







NEW YORK (Reuters) – 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.

CoreLogic’s home price index rose 6.3 percent compared to October a year ago, the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally on a year-over-year basis, CoreLogic said.

Home prices fell 0.2 percent in October from September but this was due to seasonal factors as the housing market enters the off season, CoreLogic said.

Excluding distressed sales, prices were up 5.8 percent on a yearly basis and rose 0.5 percent month on month.

Homeowners in danger of foreclosure, or in “distress”, often sell their homes at a significantly reduced price.

“The housing recovery that started earlier in 2012 continues to gain momentum,” said Mark Fleming, chief economist at CoreLogic, said in a statement.

Of the top 100 Core-Based Statistical Areas measured by population, 17 showed year-over-year declines in October, four fewer than in September.

(Reporting by Edward Krudy; Editing by James Dalgleish)


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