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May Home Prices Unexpectedly Stall

Posted To: MND NewsWire

Home prices increases slowed slightly in May on both a month-over-month and an annual basis according to the S&P CoreLogic Case-Shiller Indices. The U.S. National Home Price Index which covers all nine U.S. census divisions, rose 4.5 percent in May compared to a year earlier. In April, the annual gain was 4.6 percent. There was an increase of 0.7 percent from April to May before seasonal adjustment and 0.1 percent afterward. Case-Shiller again reported that, because of pandemic-related delays in the Wayne County, Michigan deed recording office, sales transactions for Detroit, are unavailable. Therefore, that city is not included in the composite indices. The 10-City Composite and 20-City Composite each posted an annual increase that was 0.2 percentage point lower than the previous month…(read more)

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