Home prices, consumer numbers on the rise
Home prices accelerated the most in nearly seven years in March, as the spring buying season gave the sector traction, while surging consumer confidence pointed to some resilience for the economic recovery.
The S&P/Case Shiller composite index of home prices in 20 metropolitan areas climbed 10.9% year over year, beating expectations.
Housing prices in New York City went up 2.7% from a year ago.
Separate data showed consumer confidence picked up in May to its highest in more than five years, at 76.2 in the midst of a stock market rally and lower gasoline prices.