Home Price Gains Ease but Expected to Finish Year in Double Digits

Home Price Gains Ease but Expected to Finish Year in Double Digits

The pace of home price increases slowed slightly from April to May, but the change in each of the three S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency’s (FHFA’s) House Price Index was less than 1 percentage point. Case-Shiller’s National Home Price Index which covers all nine census divisions was up 19.7 percent compared to May 2021. Its 0.9-point deceleration from the annual rate in April was the largest for any of the indices . The 10-City Composite grew 19.0 percent on an annual basis compared to 19.6 percent in April, and the 20-City Composite slowed to 20.5 percent from 21.2 percent the month before. Tampa, Miami, and Dallas reported the highest year-over-year gains among the 20 cities in May. Tampa led the way for the third consecutive month with