Monthly home prices rise 1.7% in May, annual growth fastest in 10 months: CoreLogic

WASHINGTON (MarketWatch) -- U.S. home prices rose 1.7% in May, with buyers during the key spring sales market bidding against each other for a relatively low supply of homes, according to a report released Tuesday by CoreLogic, an Irvine, Calif.-based analysis firm. Year-over-year growth for home prices hit 6.3% in May, the strongest result in 10 months. "Mortgage rates on 30-year fixed-rate loans remained below 4% through May, helping to fuel home-purchase activity," said Frank Nothaft, CoreLogic's chief economist. "Our homes-for-sale listing data shows that markets with high demand and......(read more)

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