NEW YORK (CNN) - Some good news for people looking to make some money on their houses; home prices are up by their biggest amount in almost seven years.
A report by S&P Case-Shiller shows that home prices in the 20 biggest U.S. cities rose by 12.8% in August, compared to a year earlier.
That's better than what had been expected and marks the biggest increase since the housing bubble days of February 2006.
The increases came across the entire country, including some of the areas hit hardest by the recession; places like Las Vegas, San Francisco, and Detroit.
A tighter supply of homes has been a big factor boosting prices, as buyers compete for a limited number of properties, but experts say the pace of gains are likely to slow.
That's because mortgage rates are edging higher, which could scare off prospective buyers, but a slowdown in prices isn't necessarily a bad thing.
The market doesn't want to see such dramatic increases, so quickly. A more normal pace is preferable to keep the recovery healthy.