Home prices continue to hit new highs with the latest increase in May, a slowdown from April’s increase but still up month-over-month, according to the House Price Index released by the Federal Housing Finance Agency.
Home prices increased 0.4% monthly in May, according to the seasonally adjusted monthly House Price Index. This is down from the downwardly revised increase of 0.6% in April. Year-over-year, home prices increased 6.9%.
The chart below shows home prices surpassed their previous 2012 peak in early-2016, and continued to increase…