U.S. home prices increased 2.5 percent and 2.4 percent for the 10- and 20-City S&P Case-Shiller Composites in May versus April and their annual returns rose slightly from April to May as they posted the best year-over-year gains since March 2006.

In May 2013, the 10- and 20-City Composites posted annual increases of 11.8 percent and 12.2 percent, respectively. All 20 cities increased from May 2012 to May 2013 and from April 2013 to May 2013

Dallas and Denver reached record levels surpassing their pre-financial crisis peaks set in June 2007 and August 2006 – this is the first time any city has made a new all-time high in the Case-Shiller Composites.

The chart below depicts the annual returns of the 10-City Composite and the 20-City Composite

Home Price Indices. In May 2013, the 10- and 20-City Composites posted annual increases of 11.8 percent and 12.2 percent respectively.