U.S. home prices posted their best year-over-year gain since March 2006 in May, according to the latest reading from the S&P/Case-Shiller indexes.

Each of the 20 cities that make up the 20-city composite index posted annual and sequential gains, paced by the Southwest and West. San Francisco posted a 24.5% seasonally-adjusted gain over the prior year, followed by Las Vegas’ 23.3% gain and Phoenix’s 20.6% gain. New York posted the weakest annual gain, up 3.3%.

Home Prices Post Another Big Gain In May, Best Boost Since 2006 – Forbes.