Home Prices Show Fastest Growth in Seven Years

Home-price growth fastest in seven years

WASHINGTON (MarketWatch) — As inventory remained low, home prices in May continued to rise, posting the fastest year-over-year growth since 2006, according to data released Tuesday.

Home prices, including distressed sales, rose 2.6% in May, and were up 12.2% from a year earlier, the largest annual growth since February 2006, according to CoreLogic CLGX +0.48% , an Irvine, Calif.-based analysis firm. Excluding short sales and other distressed properties, prices rose 2.3% in May, and were up 11.6% from the year-earlier period.

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