US house prices steady month-on-month in May

House prices in the US remained relatively flat in May, up 0.3% after a 0.1% monthly decline in April, the US Federal Housing Finance Agency reported on Tuesday.

New data on the housing market showed steady house prices across the country as buyers navigate high interest rates and changing inventory levels.

The agency also recorded a 2% annual increase in house prices during the previous month.

Officials noted that prices rose in 42 states between the first quarter of 2025 and the first quarter of 2026.

The agency reported that house prices went down in eight states and the capital, while Illinois led the country with a 7.3% annual appreciation rate.

Colorado saw the most significant price drop at 2.4%.

Cotality Chief Economist Selma Hepp said earlier in July that the market faced a geographic split, explaining that affordable Midwestern hubs drove price increases while other regions cooled down.