U.S. Reports 2.8 Percent Increase in May Home Prices
(MENAFN) According to the Federal Housing Finance Agency (FHFA) on Tuesday, U.S. home prices increased by 2.8% in May compared to the same month last year.
This growth follows a 3.2% year-over-year rise recorded in April.
Every region experienced positive annual price changes, with increases varying from a modest 0.6% in the Pacific division to a significant 5.9% in the Middle Atlantic division.
On a month-to-month basis, house prices slipped 0.2% in May, continuing a decline after a 0.3% drop in April.
"For the nine census divisions, seasonally adjusted monthly home price changes ranged from -0.8 percent in the Middle Atlantic division to +0.3 percent in the West South Central and New England divisions," it added.
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