Excerpt
HARI SREENIVASAN (Newshour): The latest numbers showed the biggest gains in home prices since the onset of the financial crisis. The S&P/Case-Shiller Index found prices rose in the largest 20 markets by a little more than 8 percent in January, compared to a year ago.
Separately, a government report out today found new home sales were down by five percent last month, but still up 12 percent compared to 2012. While some markets are reporting prices are climbing more quickly than expected, the average price of a new home is nearly $247,000 dollars.
For a closer look at what's driving the pace of this recovery, we turn to Nicolas Retsinas. He teaches about real estate at the Harvard Business School.
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