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Home Prices Still Surging

According to a report Tuesday from S&P/Case-Shiller home price index, prices for homes in the nation’s 20 largest cities in June rose 12.1% over the last year. Prices rose in all 20 cities measured by the index, with six cities reporting price increases larger than the month before. While it was down slightly from the gain of 12.2% reported for May, the drop may be attributed to the recently rising mortgage rates. In the past few weeks rates have risen to almost 4.6%. That being said, the housing numbers have been on a long positive streak. June marks the first time in over a year that the overall increase has been smaller than the month before.  To read the full article visit CNN Money

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