Arizona, national home prices increasing due to low supply


Home prices are rising in Arizona and nationally, and that's not going to change until there's more supply, according to a report out today.

CoreLogic’s Home Price Index report for May shows home prices increased nationally 7.1 percent year-over-year and 1.1 percent month-over-month.

However, consumers still want to buy despite high prices.

In Arizona, home prices increased 7.4 percent year-over-year. CoreLogic expects to report a 0.3 percent month-over-month increase for June.

The Phoenix…

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