U.S. home prices increase

House Prices Rise

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AUSTIN, Minn. — The housing market is continuing to heat up all across the country.

U.S. home prices have jumped more than 12 percent in July from a year earlier.

99 of the 100 largest cities reported annual price gains.

Prices also rose more than 1.5 percent from June, the 17th straight month over month increase.

Locally, real estate leaders tell us it’s simply a case of supply and demand.

“A decrease amount of homes on the market and that is creating, not really a frenzy, but, when a good home does come on the market, we’re really seeing the buyers come in and offering close to the list price or sometimes over the list price to get them,” SEMAR President Elect Casey Hatch said.

He adds with interest rates starting to creep up, now is the best time to buy, which is keeping many real estate agents busy.

For more information or to find a real estate agent in your area, you can go to: http://www.semnrealtors.org/

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