WASHINGTON — U.S. home prices rose steadily in May, pushed higher by a healthy increase in sales this year.
The Standard & Poor’s/Case-Shiller 20-city home price index increased 4.9 percent in May from 12 months earlier, down slightly from a 5 percent pace in April, according to S&P Dow Jones Indices.
Home sales have jumped in recent months as an improving economy boosts hiring and enables more people to afford a purchase. Yet the higher sales haven’t encouraged more people to sell their homes, leaving supplies tight and driving up prices.
Read Wednesday's Arkansas Democrat-Gazette for full details.