Home prices hit new highs, driven by tighter supply
A for sale sign is posted in front of a home for sale on February 20, 2023 in San Francisco, California.Justin Sullivan | Getty ImagesHome prices hit a record high in May, rising 0.7% nationally compared with April at a seasonally adjusted rate, according to the Black Knight Home Price Index.Prices, which have been rising since January, were 0.1% higher in May than a year earlier.The sharp jump in mortgage interest rates last year threw cold water on an overheated housing market, but it didn't last long. Even with rates…