HOUSE (PRICES) ON FIRE: U. S. home prices jumped 9.7 percent in January from a year ago, its biggest annual gain since April 2006. The increase followed an 8.3 percent rise in December.
WIDESPREAD GAINS: Prices rose in all states except Delaware and Illinois. Prices increased in 92 of the 100 largest metro areas, up from 87 in December. The biggest state price gains were Arizona, up 20.1 percent, followed by Nevada, up 17.4 percent. The cities with the biggest rises were Phoenix, Los Angeles, Riverside, Calif., New York, and Atlanta.
STARS ALIGN: Rising demand combined with fewer available homes is pushing up prices.