Home Prices Up Sharply in Last 12 Months

Seattle, WA, Feb. 22, 2012 -- Real estate database Zillow said that national home prices rose 6.2% in January from a year ago.

It was the highest rate of growth since July 2006 when the rate hit 7.5%.

Zillow also said rents are up by 4.2% nationwide.

The firm also said that 2 million homeowners escaped negative equity last year.