S&P CoreLogic Case-Shiller US National Home Price Index Reports 5.9% Annual Gain in May

On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for May. The Index, covering all nine US census divisions, posted an annual gain of 5.9%, down from a 6.3% gain in April.

In May, the 10-City Composite saw an annual increase of 7.7%, a decrease from the 8.1% rise in April. The 20-City Composite experienced a year-over-year increase of 6.8%, down from the 7.3% increase reported in April.

New York reported the highest annual gain among the 20 cities with a 9.4% increase, followed by San Diego and Las Vegas with increases of 9.1% and 8.6%, respectively. Portland once again saw the smallest year-over-year growth, up 1.0%.

In May, the US National Index increased 0.9%; the 20-City Composite increased 1%; and the 10-City Composite increased 1%. S&P notes that the upward trends continued to decelerate from last month.

After seasonal adjustment, the US National Index posted the same month-over-month change of 0.3% as last month, while the 20-City and 10-City Composites reported monthly changes of 0.3% and 0.4%, respectively.