US home selling prices probably dipped in May

Before seasonal adjustment, however, US home prices likely jumped by 1.4% during the reference period, placing the latest reading of 179.6, 5.25% above the level recorded in May 2014.

US home selling prices in the twenty metropolitan areas covered by the more widely followed S&P/Case-Shiller (SPCS) survey dipped by 0.1% in May, ending a string of monthly gains going back to last September. 

The breadth of reported price gains across the 20 cities canvassed by SPCS, following six consecutive months of universal increases, only 11 of the cities canvassed by SPCS posted gains in April.


"Home prices would be reaching a little over 13% below their pre-Great Recession high", says Societe Generale.