Housing Market Shows Big Improvement - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Housing Market Shows Big Improvement

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There is encouraging news in the housing market.

Home prices in 20 major markets posted a 9.3 percent rise over the last 12 months. That is the biggest 12-month gain since May 2006.

The housing recovery has been driven by near record-low mortgage rates, a drop in foreclosures and reduced unemployment.

Despite the improvement, the housing market index is still down 28 percent from the peak in 2006.

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