If you were waiting for home values to hit bottom, you've waited too long. Depending on where you live, you'll likely find fewer homes for sale and slightly higher prices when shopping for a home.

Home values increased in most parts of the country over the 12 months that ended in June, according to the National Association of Realtors.

Half of the houses sold in the second quarter of this year cost $181,500 or more. That's 7.3 percent more than the median price of $169,100 in the second quarter of 2011.

Home values rose in 110 of the 147 metro areas included in the Realtors' survey. Prices were unchanged in three areas, and prices declined in 34.