Home-price growth is expected to slow over the next couple of years, he added.
Bloomberg 
By RuthMantell Economics reporter
WASHINGTON (MarketWatch) — Here’s a city-by-city look at home prices, after the S&P/Case-Shiller 20-city composite showed that U.S. house prices rose 1.1% in May, supported by the spring sales market. There were gains in all the cities tracked by the Case-Shiller 20-city composite index.
Home prices in May were up 4.9% from a year earlier, slightly slower than annual growth of 5% seen in April.
“Nationally, single-family-home price increases have settled into a steady 4%-5% annual pace following the double-digit bubbly pattern of 2013,” said David Blitzer, index-committee chairman at S&P Dow Jones Indices.
“Prices are increasing about twice as fast as inflation or wages,” Blitzer said.
The 20 cities are designed to represent the nine U.S. Census divisions. Some major markets, such as Houston and Philadelphia, aren’t tracked.
| City | Monthly gain (%) | Yearly gain (%) |
| Atlanta | 1.4 | 5.1 |
| Boston | 1.5 | 2.2 |
| Charlotte | 0.7 | 4.9 |
| Chicago | 1.3 | 2.2 |
| Cleveland | 1.5 | 1.6 |
| Dallas | 0.9 | 8.4 |
| Denver | 1.1 | 10 |
| Detroit | 0.8 | 3.9 |
| Las Vegas | 1.5 | 6.7 |
| Los Angeles | 1.1 | 6.1 |
| Miami | 0.8 | 8 |
| Minneapolis | 1.1 | 3 |
| New York | 1 | 3 |
| Phoenix | 0.8 | 3.8 |
| Portland | 1.4 | 7.4 |
| San Diego | 0.9 | 4.8 |
| San Francisco | 1.3 | 9.7 |
| Seattle | 1.4 | 7.4 |
| Tampa | 0.7 | 6.4 |
| Washington | 1 | 1.3 |
Here are a few notable details from the data:
- Three cities tied for the fastest monthly growth: Boston, Cleveland and Las Vegas all saw prices rise 1.5%.
- Denver saw the fastest year-over-year home-price growth in May, hitting 10%.
- The slowest annual growth was in Washington, where prices rose 1.3%.
- Home prices in May for the 20-city gauge were down about 13% from a 2006 bubble peak.