Home prices in the United States in May gained 5 percent year-over-year, the same increase as April, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.
The 10-City Composite gained 4.4 percent annually, down from 4.7 percent in April. The 20-City Composite recorded a year-over-year gain of 5.2 percent, down from 5.4 percent in April.
The cities reporting the highest year-over-year gains in May were Portland, 12.5 percent; Seattle, 10.7 percent; and Denver, 9.5 percent. The National Index posted a month-over-month gain of 0.2 percent increase in May, while the 10-City and 20-City Composites recorded decreases of 0.2 percent and 0.1 percent, respectively.
“Home prices continue to appreciate across the country,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “Overall, housing is doing quite well.”
