Real Estate

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


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…


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