Reuters informs MHProNews despite the tightness of credit for residential mortgages, the housing market is threatening to take the lead from manufacturing in terms of overall economic activity, as home prices posted their largest year-over-year gain in six and-one-half years in January. While core durable capital goods orders (non-defense and not including aircraft) fell the most since July, the S&P/Case Shiller composite index of 20 metropolitan area housing markets increased 8.1 percent over last January, the largest rise since June 2006. The Commerce Department reports the sales price for a new home gained three percent February over January, and was 2.9 percent ahead of February 2012.

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