The Altos Research 10-City Composite Index rose 2.6% in May and 4.8% during the most recent three month period.
Prices increased in 23 of 26 markets with 22 markets showing three months of sequential price increases.
The Altos 10-City Composite continues to highlight a shift in properties available on the market. The market has experienced some turnover at the low-end (two years after the first sub-prime collapse) while new properties on the market are shifting to the higher-end.
Across the 10-City Composite Index markets inventory fell by 0.2% during May and 1.7% over the most recent three month period.