Home prices increased 2.3% in May compared to the same month a year ago, down from a 2.7% rise the previous month, according to the S&P CoreLogic Case-Shiller Index. The 10-city composite rose 3.4% year over year compared to a 4.1% increase the previous month. The 20-city composite increased 2.8% year over year, down from a 3.4% increase the previous month. New York City reported the highest year-over-year gain among the 20 cities with an 7.4% increase, followed by Chicago and Detroit, with increases of 6.1% and 4.9%, respectively.
Meanwhile, the Federal Housing Finance Agency’s House Price Index showed that home prices fell 0.2% in May compared to the previous month. Home prices were up 2.8% year over year. The FHFA index is calculated using the prices of houses bought with mortgages backed by Fannie Mae and Freddie Mac.










