Home Prices Increased in May

U.S. home prices increased 8.8 percent in May compared with a year earlier, according to a recent report from CoreLogic. On a month-to-month basis, prices rose 1.2 percent from April to May. The CoreLogic report noted that prices rose in every state. The states with the largest price gains were Hawaii, 13.2 percent; California, 13.1 percent; Nevada, 12.6 percent; Michigan, 11.8 percent; New York, 11 percent; Georgia, 10.3 percent; and Oregon, 10.1 percent. Ninety-four of the 100 largest metro areas confirmed higher prices in May compared to a year earlier. Those not reporting an increase were: Worcester, Massachusetts; Hartford, Connecticut; New Haven, Connecticut; Little Rock, Arkansas; Rochester, New York; and Winston-Salem, North Carolina.

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