U.S. home prices for May rise 1% from April, building on previous month-to-month gain

WASHINGTON (MarketWatch)
U.S. home prices rose in May for the second month, up 1%, according to the S&P/Case-Shiller 20-city index.
"This is a seasonal period of stronger demand for houses, so monthly price increases are to be expected and were seen in 16 of the 20 cities," said David Blitzer, chairman of the index committee at S&P Indices
April's data was revised lower to show 0.6% growth vs. an initially reported 0.7% gain.
Over 12 months, prices were down 4.5% in May