General World News

Home prices jump for a fourth straight month in May


Home prices showed resilience in May as buyers took advantage of the relatively lower rates during that month, keeping the pressure on available inventory.

The S&P CoreLogic Case-Shiller home price index posted a 0.7% month-over-month increase after a seasonal adjustment in May — marking the fourth consecutive monthly increase. The 10-city composite gained 1.1% and 20-city composite posted an increase of 1%.

Compared to May 2022, the home price index posted a -0.5% annual decrease in May, down from a loss of -0.1% in the previous month.

“The rally in U.S. home prices continued in May 2023,” Craig Lazzara, managing director at details ⇒

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