Home prices continue rebound in May

Case-Shiller: Spring improvements have yet to gain momentum

Home prices continued to see a spring bounce in May, but fell slightly compared to the same month a year ago, according to the latest S&P/Case-Shiller Home Price Indices released today.

After seven straight months of declines, home prices rose on a monthly basis in April and continued to rise in May with all 20 major markets tracked by the S&P/Case-Shiller 20-City Composite Index seeing increases between April and May. Overall, the index rose 2.2 percent month to month in May, but fell 0.7 percent from May 2011.