Home Prices Rise as Supply Dwindles

http://online.wsj.com/article/SB10000872396390444246904577575072488703032.html?mod=WSJ_hpp_LEFTTopStories

Home prices rose by their largest percentage in at least seven years during the second quarter, propelled by low inventories of properties for sale and high demand for bargain-priced foreclosures, according to two reports Tuesday.

Prices rose by 2.5% in June from a year ago, and by 6% from the previous quarter, said CoreLogic Inc., a Santa Ana, Calif., data firm. The quarterly jump was the largest since 2005.