Markets & Economy

National home prices climb 1.2 percent from April to May

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Of the top 30 metropolitan statistical areas, 28 posted modest to strong home price gains in May when compared to April. According to the FNC Residential Price Index, Sacramento, California, witnessed a 3.5 percent increase in May -- the largest month-to-month increase of any metro. Midwest metros that have seen a recent decline in foreclosure sales represented the other top performers in May. Cleveland saw a month-to-month increase of 3.1 percent, followed by Detroit (2.8 percent), Cincinnati (2.6 percent) and Chicago (2.3 percent). While these month-to-month rises in values are a positive for these markets, one month of appreciation doesn’t tell the whole story. Year over year, prices hav...