VIDEO: Home prices spike in the U.S.
Tyler, Texas (KETK) — Home prices have risen more than 12 percent in July, compared to a year ago.
That's the highest increase since February 2006.
But, home prices have had a strong rebound in the last year as improving sales and a drop in foreclosures have removed drags on the market.
Analysts also cited a limited supply of available homes for the gain and also say there is evidence that prices may be peaking.
Click the video to see more.