Home Prices Up for 12th Consecutive Month

Washington, DC, March 21, 2013 --  Home prices rose for the 12th consecutive month in January, according to the Federal Housing Finance Agency's monthly home-price index.

Home prices increased 0.6% on a seasonally adjusted basis from a month earlier. Compared to a year ago, home prices were up 6.5%.

Economists had expected a 0.9% monthly increase.

The index reading in January was 194.6, with 100 equal to the price of homes in January 1991.