Case-Shiller: Home Prices Soar
Home prices continued to speed upward in March, posting their biggest year-over-year gain since April 2006, according to a widely-followed index. Property values shot up almost 11 percent in March over the past year according to the S&P/Case-Shiller home price index released Tuesday. March's gain comes on top of a more than 9 percent gain in February, sparking fears that some U.S. housing markets might be overheating. Las Vegas, Phoenix, and San Francisco all posted appreciation rates of more than 20 percent. Even the smallest gains -- 2.6 percent in New York, 4.8 percent in Cleveland and 6.7 percent in Boston -- were characterized as "quite substantial" in the report. Read more.