US house prices increase in May
US house prices climbed 1.1% month-on-month in May, according to the Case-Shiller 20-city composite index released on Tuesday.
When considering a seasonal adjustment, prices declined 0.2%, the report added.
Home prices in May rose 4.9% year-on-year, a slightly slower rate of growth compared to April’s 5%.
"Nationally, single-family-home price increases have settled into a steady 4%-5% annual pace following the double-digit bubbly pattern of 2013," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.