US: Home prices continue to climb and outpace both inflation and wages - S&P/Case-Shiller

"The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.6% annual gain in May, the same as the prior month," S&P Dow Jones Indices announced on Tuesday.

Key takeaways:

• The 10-City Composite annual increase came in at 4.9%, down from 5.0% the previous month.
• The 20-City Composite posted a 5.7% year-over-year gain, down from 5.8% in April.
• “Home prices continue to climb and outpace both inflation and wages,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.
• “Housing is not repeating the bubble period of 2000-2006: price increases vary across the country unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging."