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Home prices take biggest leap in 7 years

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National home prices in January were up 9.7 percent from a year ago, the biggest annual increase since April 2006, according to data aggregator CoreLogic's home price index. The index, which tracks repeat sales of single-family homes, rose 0.7 percent in January from December, marking the 11th consecutive month of month-over-month increases. "Home prices continued to gather steam across a broad swath of the country in January, continuing the positive trend we saw during most of 2012," said Anand Nallathambi, president and CEO of CoreLogic, in a statement. "Many states across the western U.S. and along the East Coast saw average price gains of more than 6 percent, which is likely to boost home sale activity into the first half of 2013," Nallathambi said. All U.S. states but Delaware (-0.1 percent) and Illinois (-0.4 percent) saw year-over-year increases in January, according to the index. Arizona (20.1 percent), Nevada (17.4 percent), Idaho (14.9 percent), Cali...