March Home Sales Soar

The S&P/Case-Shiller index is out, and single-family home prices gained 1.1 percent in March, beating the expectation of 1 percent. Year over year, the prices were up 10.9 percent, the largest increase since 2006. The overall gain for the first quarter, 3.9 percent, is much higher than the 2.4 percent of the final quarter of 2012, an indication of the returning strength of the housing market.