S&P Case-Shiller index rose more than forecast

S&P/Case-Shiller composite 20 home prices rose 0.5% in May (consensus forecasts were looking for a 0.2% increase) and April's gain was upwardly revised to 0.6% from an originally reported 0.4%. On a year-over-year basis, S&P/CS composite 20 home prices have risen 4.6% versus 3.8% year-over-year in April (using not seasonally adjusted data).

Of the 20 metro areas, home prices rose in May in all areas apart from Denver, Las Vegas, Charlotte, Cleveland and Detroit. On a year-over-year basis, home prices are above year-ago levels in all areas apart from Chicago, Las Vegas, New York, Charlotte, Detroit, Seattle and Tampa.

Please see attached some charts illustrating trends in S&P/CS home prices.

S&P Home Price Index Carts

Source RDQ


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