EMERYVILLE, CA and SEATTLE-Home prices continued to rise in the 30-day period ended June 15, while the rate on the 30-year fixed mortgage rate average has reached the second highest level in two years.

ZipRealty of Emeryville, says its latest research indicates that both prices and the number of listings rose between mid-May and mid-June, its most recent study period.

“With the recent jump in mortgage rates, on top of steady home price increases over the past several quarters, there are good reasons to anticipate some cooling off in the housing market; however it was difficult to detect any clear signs of that change in trend as of mid-June,” says ZipRealty CEO and president Lanny Baker. “From May 17 to June 15, the median sales price of nearly $276,000 in the metros we analyzed was $5,000 higher than just two weeks earlier, and 15.8% higher than in the same period of 2012.”

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.