WASHINGTON (AP) - U.S. home prices grew more slowly in May, but continued to show resilience in the face of the coronavirus outbreak.
The S&P CoreLogic Case-Shiller 20-city home price index rose 3.7% in in May from a year earlier, a drop from a 3.9% increase in April and a smaller gain than economists had expected.
Still, home prices have risen steadily despite the pandemic and lockdowns that have badly damaged the American economy.
Phoenix led the way with a 9% annual gain in home prices, following by Seattle (up 6.8%) and Tampa (up 6%). Chicago registered the smallest increase: 1.3%.