U.S. House Prices Rise 1.1% In May

By Ruth MantellMarketWatch Pulse

U.S. house prices rose 1.1% in May, supported by the spring sales market, with gains in all the cities tracked by the Case-Shiller 20-city composite index released Tuesday. After seasonal adjustment, prices declined 0.2%, the report said. Home prices in May were up 4.9% from a year earlier, slightly slower than April's annual growth of 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. Denver saw the fastest year-over-year home-price growth in May, hitting 10%. Meanwhile, the slowest annual growth was in Washington, where prices rose 1.3%.

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