Home Prices Hit New Highs in Dallas, Denver

Bubbly?

Although imperfect, the S&P/Case-Shiller Home Price Index is fairly closely watched as a guide to housing prices across the U.S. For the past few months, the index has been rising, so it's not entirely surprising that the numbers released today show yet another jump — of 1.0%, on a seasonally adjusted basis, reflecting May sales.

What is raising eyebrows, however, is that in two of the twenty cities tracked by the index, home prices hit new highs.