From the WSJ:
Home prices made solid gains in May, according to a report released Tuesday, as home price growth appears to be largely flattening out after a long, uneven recovery.
The S&P/Case-Shiller Home Price Index, covering the entire nation, rose 4.4% in the 12 months ended in May, slightly greater than a 4.3% increase in April.
The 10-city and 20-city indexes saw similar increases in May as in April. The 10-city index gained 4.7% from a year earlier, slightly stronger than a 4.6% increase in April. The 20-city index gained 4.9% year-over-year, identical to the increase in April.
Economists surveyed by The Wall Street Journal expected a 5.7% increase to the 20-city index.
Price gains have remained largely flat in 2015 at just over 4%, after low double-digit gains in 2013. Economists said that is likely a good sign that the market is stabilizing closer to levels that most buyers can afford.
David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, said that price gains are likely to continue slowing, eventually stabilizing at around 3%.