Morning Minute: Existing home prices and new home sales headed up

U.S. home prices rose 12.1 percent in April and the momentum was also felt in the Chicago-area market which saw a 9.3 percent year-over-year increase over the same time period, according to the Standard & Poor’s Case-Shiller index released today. Read more in the USA Today article, “Home prices up 12.1% in April,” and get the Chicago-area details in the Crain’s Chicago Business article, “Home prices up 9% in latest Case-Shiller data.”

In other news today, the Commerce Department reports that sales of new homes rose 2.1 percent in May, the highest level in nearly five years. Read more from Reuters.

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