The national average home price rose 7.1 percent in the second quarter ending in June 2013, according to the S & P/Case-Schiller Home Price Indices. On a year-over-year basis, the national index grew 10.1 percent. For June, the 10- and 20-City Composites posted returns of 2.2 percent and 12.1 percent since June 2012.
All 20 cities posted gains in June, on both a monthly and annual basis. Dallas and Denver reached new all-time highs in June, and San Francisco's prices have shown the greatest rebound from its March 2009 low.
"Overall, the report shows that housing prices are rising but the pace may be slowing," David M. Blitzer, chairman of the Index Committee at S & P Dow Jones Indices, said in a statement. "Thirteen out of 20 cities saw their returns weaken from May to June. As we are in the middle of a seasonal buying period, we should expect to see the most gains. With interest rates rising to almost 4.6%, home buyers may be discouraged and sharp increases may be dampened."
