CoreLogic’s May Home Price Index rose 0.8 percent in May compared to April. It was the second-straight month of gains following the 0.7 percent increase the month before. Mark Fleming, CoreLogic’s chief economist, said two consecutive months of growth and continued strength in the non-distressed market segment, along with declining inventory and stabilized negative equity levels, are positive signs for the housing market. Though national home prices were down year-over-year, when excluding sales of distressed properties, prices were down just 0.4 percent. Capital Economics said the CoreLogic data is further evidence that the five-year long decline in values is drawing to a close. More here and here.

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