"...a month-over-month increase of 0.8% in May...Nationally, year-over-year home price gains were lower in May than in April". Well, 'can't have it, the price increase to income increase gap is tightening...lower those rates and print 'em if you got 'em. $2trillion deficits will be par for the course.
Annual US home price gains dip to 3.4% according to S&P CoreLogic Case-Shiller Index
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.4% annual gain in May, down from 3.5% in the previous month. The 10-City Composite annual increase came in at 2.2%, down from 2.3% in the previous month. The 20-City Composite posted a 2.4% year-over-year gain, down from 2.5% in the previous month. Las Vegas, Phoenix and Tampa reported the highest year-over-year gains among the 20 cities. In May, Las Vegas led the way with a 6.4% year-over-year price increase, followed by Phoenix with a 5.7% increase, and Tampa with a 5.1% increase. Seven of the ... (full story)