Washington: US house prices rose 2.8% in May from a year ago, the Federal Housing Finance Agency (FHFA) said Tuesday. This marks a continued upward trend in the housing market, following a 3.2% year-on-year increase in April.

According to Anadolu Agency, the 12-month changes were positive across all regions, with the Pacific division seeing a modest rise of 0.6% and the Middle Atlantic division experiencing a significant 5.9% increase. However, on a monthly basis, house prices saw a decrease of 0.2% in May, following a 0.3% decline in April.

The report further detailed that for the nine census divisions, seasonally adjusted monthly home price changes varied. The Middle Atlantic division saw a decrease of 0.8%, while the West South Central and New England divisions recorded a slight increase of 0.3%.