U.S. house costs rose at a gradual tempo in Might, pushed increased by a wholesome improve in gross sales this 12 months.
The Normal & Poor's/Case-Shiller 20-city house value index elevated 4.9 p.c in Might from 12 months earlier, down barely from a 5 p.c tempo in April, in accordance with S&P Dow Jones Indices.
Dwelling gross sales have jumped in latest months as an bettering economic system boosts hiring and permits extra folks to afford a purchase order. But the upper gross sales haven't inspired extra folks to promote their houses, leaving provides tight and pushing up costs.
The Case-Shiller index covers roughly half of U.S. houses. The index measures costs in contrast with these in January 2000 and creates a three-month transferring common. The Might figures are the newest out there.