Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening.
The gains come despite a sharp jump in mortgage interest rates during the month.
The 10-city composite fell 1%, year over year, slightly less than the 1.1% decrease in the previous month. The 20-city composite dropped 1.7%, the same as the annual decline in April. "If this seems like an unusual occurrence to you, it seems that way to me too. It's been five years to the month since a cold-weather city held the top spot ," added Lazzara.
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