Home prices continue to rise increasing 1.9% from the previous quarter. According to the Federal Housing Finance Agency, May has marked the seventh consecutive quarterly price rise in the purchase-only, seasonally adjusted index rate. From the first quarter of 2012 to the first quarter of 2013, home prices have increased by 6.7%. The principal economist of FHFA, Andrew Leventis said, “the housing market has stabilized in many areas and homebuilding activity has strengthened in recent quarters.” More here
