Housing prices continue to rise in most U.S. metro areas.

Home prices in most U.S. metropolitan areas rose faster than historic norms during the second quarter of 2002, although the annual rate of increase was less than in the first quarter, according to the National Association of Realtors (NAR).

David Lereah, NAR's chief economist, says price patterns are following market demand. "It's a simple matter of supply and demand, and right now there are still more buyers than sellers in most housing markets," he says. "The fact that housing inventories remain on the lean side means home prices are rising faster than historic norms