GRAND RAPIDS, Mich. — Real estate prices surge in February of 2018, despite rising mortgage rates.
Home values posted an annual gain of 6.3 percent nationally this past February.
That figure is higher than the 6.1 percent annual jump reported in January.
These prices are based on a three month running average dating back to December of 2017.
Experts say heavy demand combined with a short supply of homes for sale is driving home prices up all around the country.
The 30 year mortgage rate climbed a half of a percentage point over the last year.