Real Estate

Home prices broke records in May, according to S&P Case-Shiller

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A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida.

Joe Raedle | Getty Images

Home prices continue to break records, as strong demand slams up against weak supply.

Nationally, home prices were 16.6% higher than in May 2020, the highest reading in the S&P CoreLogic Case-Shiller report’s 30-plus years. In April, it rose 14.8% year over year.

The 10-city composite annual increase was 16.4% in May versus 14.5% in April. The 20-city composite gained 17% year over year, up from 15% the month before. All 20 cities reported higher price increases in the year ending May 2021 versus the year ending April 2021.

Phoenix, San Diego and Seattle reported the highest…



Source cnbc.com

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