New York led the 20 cities with a 7.4 percent annual gain in May, while Tampa, Florida, ranked last with a 2.4 percent drop in home prices.
The S&P CoreLogic Case-Shiller Index, the leading measure of U.S. home prices, showed a 2.3 percent annual gain in May, down from 2.7 percent in April, marking the lowest level since July 2023.
Meanwhile, the 20-city composite showed a year-over-year gain of 2.8 percent, a decline from a 3.4 percent increase in April. The 10-City composite experienced an annual growth rate of 3.4 percent, a decrease from 4.1 percent in April.
