US stocks have opened higher after a leading index of housing prices showed a steep price increase.
Five minutes into trade, the Dow Jones Industrial Average rose 54.95 (0.38 per cent) to 14,502.70.
The broad-based S&P 500 jumped 6.12 (0.39 per cent) to 1557.81, while the tech-rich Nasdaq Composite Index increased 13.05 (0.40 per cent) to 3248.35.
The trading came after S&P/Case-Shiller Home Price index showed average home prices rose 8.1 per cent for 20 leading cities for the 12 months ending in January 2013.
The rise was the highest year-over-year increase since summer 2006, said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.
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