The 3.6% increase from a year earlier is more than three times the rise in the previous quarter and was the biggest jump in prices since the second quarter of 2010.
This latest rise comes as the housing market has shown numerous other signs of recovery in recent months. The rebound is caused by a combination of record low mortgage rates, an improving jobs market and a drop in foreclosures to a five-year low, reducing the supply of distressed homes available. There is also a tighter supply of both new and previously owned homes on the market.

Resource: CNNMoney Nov 27,2012