Home prices up 13% last year

A quote from this CNN/Money article:

"While (price) deceleration continues in some areas, appreciation generally is still extremely strong," Lawler said. "Mortgage rates climbed significantly during the second half of last year, but the effect of that increase on price appreciation so far appears to be limited."

Last year's rate of appreciation is about double the historical average of 6.4 percent, according to Bankrate.

Recent reports on new and existing home sales, however, point to a long-anticipated slowing. The risk is that consumers will start feeling less confident when their home equity growth ebbs, and proceed to curb the spending that has been a major economic driver.