Dive Brief:

• Both the 10-city and 20-city reports from the S&P/Case-Shiller Home Price Indices of May home prices showed the smallest year-over-year gains since February 2013.
• The indices were up 9.4% and 9.3%, respectively, but David M. Blitzer, who chairs the Index Committee at the report's owner, S&P Dow Jones Indices, said those numbers were "well below expectations."
• Seasonally adjusted, prices slipped from April, and among the Case-Shiller cities, Charlotte, North Carolina, was the only one that had a bigger year-over-year gain than it had in April.

Dive Insight:

Blitzer said housing overall has been "turning in mixed economic numbers" recently, with existing home sales up and new-home sales down. Slower price increases, however, may be seen as a benefit by people who have argued that prices rising faster than the rest of the economy is one of the factors keeping first-time buyers out of the housing market.