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Home prices still surging ... for now

Posted by Bonnie Martin Designated Broker on Tuesday, August 27th, 2013 at 8:45am.

Home prices are still surging, but the pace of the gains has steadied as interest rates continue to rise.

Prices for homes in the nation's 20 largest cities in June rose 12.1% over the last year, according to a report Tuesday from S&P/Case-Shiller home price index.

While that gain is still robust, it didn't quite match the gain of 12.2% reported for May. Rising mortgage rates may be to blame.

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