US house prices annually jump 5.7% in May

By Ovunc Kutlu

ISTANBUL (AA) - US house prices annually jumped 5.7% in May, from the same month of last year, the Federal Housing Finance Agency (FHFA) said Tuesday.

The figure for April was revised up to a gain of 6.5% from an increase of 6.3%.

On a monthly basis, however, house prices remained unchanged in May, coming lower than market estimates of a 0.2% gain.

The monthly figure for April was revised up to an increase of 0.3% from a gain of 0.2%.

"U.S. house price movement was flat in May," said Anju Vajja, acting deputy director of FHFA’s Division of Research and Statistics. "The slowdown in U.S. house price appreciation continued in May amid a slight rise in both mortgage rates and housing inventory."