Case/Schiller recently released their 20 city composite index showing the average change in home price from May 2012 to May 2013. The Index shows that home prices increased 12.2% year over year. This is the largest gain in the 20 city index since March of 2006. While this is welcome news for home sellers, mortgage rates and prices continue to climb for new home buyers. This is just one more sign that the economy is in recovery.
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