By The numbers: U.S. home prices set another record in May, according to the latest edition of the S&P CoreLogic Case-Shiller Home Price Index.
The national index recorded an increase of 16.6% over the past year, up from the prior record of 14.8% set last month. The separate 20-city index, which gauges home prices across a group of major cities across the country, increased over the past year by 17% in May, up from 15% in the prior month.
The big picture: Although not reflected in the data, economists see signs that boom conditions in the housing market are starting to ease. On Monday, the government reported that new-home sales in June were 32% below their peak set in January and sale prices were softening.
Market reaction: U.S. stocks
DJIA,
-0.61%
SPX,
-0.50%
were set to open lower on Tuesday after the smaller-than-expected gain in durable goods.
