US home prices bounce back

US home prices, across the country, recovered rapidly in the year to July, data from CoreLogic revealed yesterday. Prices climbed 3.8 per cent over the year, their fastest yearly growth since August 2006. The increase – which appears to bode well for an American housing market that has been stuck in the doldrums for several years – is the fifth straight upturn into CoreLogic’s monthly index. It also expects further price hikes to emerge in August’s data.