Home prices rise nationally in June

Houston real estate market likely saw prices rise.Homeowners in the Houston real estate market likely saw the value of their?properties rise in June, with prices jumping markedly across the country.?CoreLogic's June Home Price Index revealed a 1.9 percent bump from the previous month and an 11.9 percent year-over-year increase, marking the 16th consecutive month of gains.?”The U.S. housing market experienced robust price appreciation during the first half of 2013 and our forecast calls for double-digit growth through July,” said Anand Nallathambi, president and CEO of CoreLogic. “Despite their rebound of late, home prices remain reasonable in a historical context, with most states near peak affordability levels.”Moving forward, prices are projected to rise 1.3 percent on a monthly basis in July and 12.5 percent when compared to the same time a year ago.?Part of the reason prices are on the rise is the fact that there is a limited number of homes available for sale. According to the National Association of Realtors, inventory was 7.6 percent below the same time a year ago in June.?With few homes available for sale, bidding wars can occur, which pushes sales prices higher.?Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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