U.S. Home Prices Rise 12.1 Percent in June

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) - U.S. home prices rose 12.1 percent in June from a year earlier, nearly matching a seven-year high. But monthly price gains slowed in most markets, a sign that higher mortgage rates may be weighing on the housing recovery.

The Standard &Poor's/Case-Shiller 20-city home price index slowed only marginally from May's year-over-year gain of 12.2 percent, the fastest since March 2006. And all 20 cities posted gains from the previous month and compared with a year ago.

Home prices in Las Vegas posted the biggest increase, soaring 24.9 percent from a year earlier. Purchases by investors have helped drive that increase.

Still, 14 of the 20 cities posted smaller gains in June compared with May. That's unusual considering June is the middle of the summer buying season.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 221314391 - kolotv.com/a?a=221314391
Gray Television, Inc.