National home prices were up 17.2%, year over year in June, the highest yearly increase since 1979, according to the latest CoreLogic Home Price Index Report.

CoreLogic said the increase in home prices was fueled by low mortgage rates, low for-sale supply and a rebounding economy.

Looking ahead, the firm cautioned prices could taper off in the next 12 months as prices become out of reach for some buyers along with projected increases in for-sale supply and moderation in demand.

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