Housing prices surge, rise 9.3% since last year

A for sale sign is seen in front of a home on January 25, 2011 in Miami, Florida.

Home prices rose 1.2 percent in February and were up 9.3 percent since last year, according to the S&P Case-Shiller Index.

Gus Faucher, senior economist with the PNC Financial Services group, joins Marketplace Morning Report host Jeremy Hobson to discuss the increase and what's causing it.

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

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