May Home Prices Up 6.6 Percent Year-Over-Year

Home prices in May increased 6.6 percent year-over-year and 1.2 percent month-over-month, according to the CoreLogic Home Price Insights report.

“The market remained robust with home sales and prices continuing to increase steadily in May,” said CoreLogic Chief Economist Frank Nothaft in a statement. “While the market is consistently generating home price growth, sales activity is being hindered by a lack of inventory across many markets.”

CoreLogic predicts home prices will increase 0.9 percent in June and 5.3 percent by May 2018.