May Price Jump Is 12.2% – 7 Year High

CoreLogic is reporting the biggest price jump in nearly seven years. Nevada, California and Arizona led the way. Exuberant? Yup! But, it remains to be seen how the recent sharp rise in mortgage interest rates if persistent will affect markets. Notwithstanding, here in Florida on the Gulf Coast there are fewer listings and Sellers are once again able to ask for a higher price than a recently sold nearby comparable. Smart people are claiming the interest rate rise will not dampen the new enthusiasm for real estate. We’ll see. Want more? USA Today article reprint from AP here:

http://www.usatoday.com/story/money/2013/07/02/may-home-prices/2482067/