US home price growth cooled in May for second straight month

US home price growth cooled in May for second straight month

Roger Pettingell Sarasota Real Estate

Home price increases slowed in May for the second consecutive month, the latest sign that rising mortgage rates are starting to slow activity in the housing market.

Prices climbed 19.7% nationally in May from the previous year, down slightly from the gain of 20.6% recorded in April, the S&P CoreLogic Case-Shiller index showed on Tuesday. 

“Housing data for May 2022 continued strong, as price gains decelerated slightly from very high levels,” Craig Lazzara, a managing director at S&P Dow Jones Indices, said. “Despite this deceleration, growth rates are still extremely robust, with all three composites at or above the 98th percentile historically.”

This is a developing story. Please check back for updates.


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