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Tuesday
Jul022013

Average US Home Prices Up, but Americans Still Buying

Phillip Spears/Digital Vision(NEW YORK) -- Average home prices jumped more than 12 percent in May compared to a year ago, according to a new report from the real estate firm CoreLogic.
 
Thirty-year fixed rate mortgages have jumped more than one percent since they hit record lows earlier this year. Despite that increase, however, mortgages are still relatively cheap. And there are no signs of any slowdown for the housing market -- at least for now.

The CoreLogic report also says average prices across the country rose 2.5 percent in May compared to the month before.

Though prices seem to be on the rise, most Americans are confident it's a great time to  purchase a home, according to a University of Michigan survey.

Copyright 2013 ABC News Radio