S&P/Case Shiller Home Price Indices Slow in May

Home prices grew moderately in May according to the latest S&P/Case-Shiller Home Price Indices. On a year-over-year basis the 10-City Composite gained 9.4 percent and the 20-City gained 9.3 percent, down from the previous y/y gains reported last month of 10.9 percent and 10.8 percent, respectively. The 10- and 20-City Composites posted gains of 1.1 percent from the previous month with all twenty cities posting increases.

Tampa, San Francisco and Chicago led the gains for May with Charlotte posting its highest monthly increase in over a year. Only Phoenix and San Diego posted less than a one percent gain at, 0.4 percent and 0.5 percent, respectively.