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The Boston Globe

Business

US home prices rise in May by most in 7 years

WASHINGTON — US home prices jumped 12.2 percent in May from a year ago, the most in seven years. The increase suggests the housing recovery is strengthening.

Real estate data provider CoreLogic said Tuesday that home prices rose from a year ago in 48 states. They fell only in Delaware and Alabama. And all but three of the 100 largest cities reported price gains.

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Prices rose 26 percent in Nevada to lead all states. It was followed by California (20.2 percent), Arizona (16.9 percent), Hawaii (16.1 percent), and Oregon (15.5 percent).

CoreLogic also says prices rose 2.6 percent in May from April, the 15th straight month-over-month increase.

Sales of previously occupied homes topped the 5 million mark in May for the first time in 3½ years. And the proportion of those sales that were ‘‘distressed’’ was at the lowest level in more than four years for the second straight month. Distressed home sales include foreclosures and short sales.

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